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Renatus’ Weekly M&A Newsletter – 10/01/2021
January 10, 2021
Renatus’ Weekly M&A Newsletter – 24/01/2021
January 24, 2021
January 17, 2021

Irish fintech company Carne Group receives growth investment, Principal Logistics acquires Dublin-based Brentech Data Systems, Dortek completes MBO, Valeo Foods acquires German confectionary group and much more in this weeks newsletter.

Renatus Private Equity Dublin, Ireland

Renatus Weekly M&A & Company Performance Newsletter 17/01/2021

Dear Reader,

Please find below this week’s newsletter covering the latest M&A, company performance, fundraisings and executive moves.

M&A ACTIVITY

Irish fintech company Carne Group receives growth investment

Deal Details: Carne Group, the digitally driven compliance platform for the asset management industry, has secured a reported €100m investment from Vitruvian Partners.

Carne’s technology platform, CORR (Compliance Oversight Risk & Reporting), helps asset managers to fulfil their compliance, risk and operational requirements with greater accuracy, efficiency and effectiveness through automated data acquisition, analysis, and real-time reporting. The business is led by its founder and CEO John Donohoe and chaired by John Herlihy, LinkedIn’s top exec in Europe.

The investment will be used to expand Carne’s client-led technology solutions and will see Vitruvian Partners take a minority stake in the business.

Advisers: Carne was advised by Stephens Europe, Deloitte, and Matheson in the transaction.

Vitruvian Partners was advised by KPMG Ireland Corporate Finance, EY, PwC, Oliver Wyman, and Dickson Minto.
Stephen Byrne was the lead partner for the deal  for Vitruvian, who is son of one Ireland’s most respected corporate financiers, Tom Byrne.

Renatus Comment: This investment will reportedly value Carne at c. €400m. Carne was founded by Group CEO John Donohoe in 2004 and has grown to become the largest third party fund management company in the world with AuM and commitments of over $170Bn, according to Carne’s website. This is an incredible feat and a true Irish business success story.

Source: Carne Group, Irish Times

Principal Logistics acquires Dublin-based Brentech Data Systems

Deal Details: Warehouse and supply chain management software specialist, Principal Logistics Technologies continues to bolster its growth plans with the acquisition of Brentech Data Systems.  The acquisition, completed in December  and will deepen Principal’s expertise in bespoke software technology for the global healthcare supply chain sector.

As part of the transaction, Principal Logistics Technologies purchased the entire share capital of Brentech Data Systems which includes its intellectual property rights.

Brentech Data Systems, founded in 1990 by John Brennan, is a leading provider of Distribution, Supply Chain Management (SCM) and Enterprise Resource Planning (ERP) software and support to wholesalers and distributors of various sectors across the globe.

Founded in 1993, Principal Logistics is majority owned by CEO Peter Flanagan.

Advisers: The Duff & Phelps corporate finance team led by Luke Mooney and supported by Anthony Carroll, Sandra Deane and Aiden McGroarty acted as Financial Advisor to Principal providing buyside, capital raise and financial due diligence services for the transaction.

The Dillon Eustace multi-disciplinary legal team was led by Lorcan Tiernan head of Corporate M&A, supported by M&A Associate Owen Brayden, David Lawless Head of Tax, Conor Keaveny, partner Banking and Capital Markets and Banking Associate, Shona Hughes.

Tax advice was provided by Bernard Doherty of Grant Thornton. Financing was provided by The Firmament Group and Harwood Private Capital.

Renatus Comment: Software managing the supply chain process for stakeholders has always been essential, a fact newly highlighted by the global Covid pandemic. Logistics providers and last-mile delivery services have witnessed increased volumes which have necessitated demand for efficient and hi-tech supply chain management offerings which the likes of Principal Logistics Technologies provide. Principal is a mission-critical partner to its high profile customers across warehousing, logistics & manufacturing just as Brentech is to its blue-chip clients in the pharma and healthcare supply chain sector. Prior to the acquisition Principal bolstered its management structure with a number of key appointments and so further corporate activity can be expected in the medium term.

Source: Dillon Eustace

Dortek completes MBO

Deal Details: Senior management of Dortek Ltd has completed a management buyout of the business.

Alan O’Keane, David Kerrigan and three Directors in the MBO team acquired the shareholding of Phons O’Mara and family and Tony Fenton.  In its financial year to March 2019, Dortek Ltd reported revenue of c. €21.5m and EBITDA of c. €1.6m, per filed accounts.

Dortek Ltd is a Wicklow based manufacturer and installer of hygienic and other door systems working in Europe, the US and Asia.

DunPort supported the deal with debt funding.

Advisers: The KPMG team of Niall Flood, Eoin Fitzpatrick and David O’Kelly provided advice management on the MBO.

McCann Fitzgerald’s Aidan Gleeson, Niamh O’Reilly and Tom Dane, provided legal advice to DunPort while LK Shields’ Gerry Halpenny and Simon Mahon provided legal advice to the MBO team.

Renatus Comment: Based out of a manufacturing facility in Wicklow, Dortek manufacture a range of high-end doors for industrial settings for a global customer base. While offshoring of manufacturing to lower cost base economies has been a trend of the past number of decades, this is a great example of how an Irish company engaging in true value-add, high-end manufacturing can still compete and win market share globally.

Management stepping into the ownership role can be a catalyst for growth and we look forward to following Dortek’s story during the next phase of its growth.

Source: Dunport

Valeo Foods acquires German confectionary group

Deal Details: Valeo Foods Group has acquired Schluckwerder, a specialist producer of confectionery products in Germany and around the world, from German mid-market private equity firm Novum Capital.

Founded in 1956, Schluckwerder operates three production facilities in northern Germany. Retailers including Lidl, Aldi and Netto form a core part of its business. More than 25% of its products are sold outside Germany.

Valeo Foods is an Irish multinational producer of branded food and beverage products. The company has a portfolio of over 50 international food brands which are sold across 90 countries globally, including Rowse Honey, Odlums, Batchelors, Jacob’s, Balconi, and Kelkin.

Advisers: None mentioned.

Renatus Comment: This is Valeo’s the second announced acquisition in less than a month, and its 18th since the company was founded 11 years ago. Originally formed through the CapVest backed merger of Bachelors and Origin Foods (Shamrock food brands), the growth and success of Valeo Foods is a story about the value that strategic acquisitions can create. In a sector, where growth tends to track GDP, Valeo has created a €1.2m revenue group through a succession of well-executed acquisitions targeting heritage brand leaders. Its products are consumed in 106 countries around the world.

Source: Irish Independent

MyClinic.ie is acquired by European telehealth firm

Deal Details: MyClinic.ie has been acquired by European telehealth firm HealthHero for an undisclosed sum.

Founded in Dublin by doctors Daniel Clear, James Ryan, and Terry Deeney, MyClinic’s services include online repeat prescriptions, mental health, physiotherapy and wellbeing products, as well as video consultations with healthcare professionals ranging from GPs, therapists, midwives, physiotherapists, and fertility specialists.

Already a major telehealth player in Europe, HealthHero’s services cover 20 million people and 1,000 businesses across Europe.

Advisers: Legal advisers to MyClinic.ie  were Paddy O’Shea (Partner), Alan Ryan (Partner) and Caoimhe Ruane (Solicitor) of Wallace Corporate Counsel LLP

Renatus Comment: Health is another sector which Covid has likely changed permanently. With the restrictions placed on routine medical visits usually conducted in person, health professionals and patients have been forced to move to an online medium. Companies, such as MyClinic, which reduce the friction between health professionals and patients are now a necessity and they stand to benefit.

First movers in this space which can capture initial demand will position themselves well into the long term. MyClinic has established a customer base in Ireland and TeleHealth look to be bolting this on to their already sizeable customer base in Europe.

Source: Pharmaphorum.com

Gaeltacht packaging company is acquired by US based manufacturer

Deal Details: R.A. Pacáistí Teo (Rapid Action Packaging – RAP), a Donegal-based packaging company has been acquired by American-based ProAmpac, a manufacturer of flexible plastic and paper packaging solutions.

RAP, which is an Údarás na Gaeltachta client company, currently employs 200 people at its manufacturing facility in the Donegal Gaeltacht, as well as another 40 people in London.

Following the acquisition, RAP will join the ProAmpac brand and will maintain all its operations at its manufacturing facilities in the Donegal Gaeltacht and in London. No financial consideration has been disclosed.

Advisers: None mentioned

Renatus Comment: ProAmpac will view this acquisition of RAP from Ludgate Investments as a route to expanding its manufacturing capabilities to produce primary packaging for ready-to-eat and freshly prepared foods. R.A. Pacaisti Teoranta reported revenue of c. €31.7m and EBITDA of c. €6.8m in its financial year to September 2019.

Source: Irish Times

Management team of CBRE NI completes MBO

Deal Details: The management team of commercial real estate services firm, CBRE Northern Ireland, has completed a management buyout of the operation from CBRE UK.

CBRE is one of the leading full-service real estate services and investment organisations in the world.

The NI management team, which is led by Brian Lavery, Robert Ditty and Gerard McCann, has arranged an agreed structure which will allow for operational flexibility while retaining its position as an affiliate of CBRE.

Advisers: None mentioned.

Renatus Comment: This move by the CBRE management team to complete a MBO is bucking the trends we are seeing in professional services deal, where the market has recently favoured consolidation, bigger firms buying smaller firms.

Source: Insider Media

EnviroChemie Group acquires Industrial Water Management (IWM)

Deal Details: EnviroChemie Group, headquartered in Germany and a subsidiary of SKion Water GmbH, has acquired Dublin-based Industrial Water Management Ltd. (IWM) for an undisclosed sum.

Founded in 1976, EnviroChemie supplies sustainable system solutions worldwide for all the tasks involved in industrial water treatment and the treatment of process water, circulation water, cooling water, boiler water and wastewater.

IWM specializes in cooling tower, steam boiler and water hygiene services, including legionella control and water chemicals supply. With 30 employees, IWM generates an annual turnover of approximately €3m.

Advisers: DWF Dublin (Ross Little, Head of Corporate) advised the shareholders and management of IWM on the legals, and Derek Dervan (Partner in Roberts Nathan) provided corporate finance and tax advice to the shareholders and management of IWM.

Arthur Cox (Ciaran Bolger and Reem Ka’ati) advised EnviroChemie.

Renatus Comment: The acquisition of IWM will strengthen the mutual competencies in this market segment and expand the range of services available for customers. This transaction will give EnviroChemie a permanent presence in Ireland and give Irish customers the potential to benefit from EnviroChemie’s broad range of products and services as well as local support from IWM. IWM’s optimal access to pharmaceutical customers is also in line with EnviroChemie’s current strategy.

Source: EnviroChemie

DEALS IN THE MAKING

Four banks come together to develop payment app

AIB, Bank of Ireland, Permanent TSB and KBC Bank have teamed up to develop a new payment system that they hope will rival Revolut.

They are coming together to build an app-based instant payment system in a bid to stem the rapid loss of customers to digital disruptors such as Revolut and Apple Pay.

The joint venture has had to be notified to the CCPC in case it infringes competition law.

Source: Irish Times

Ireland’s largest waste company in line for €1bn takeover

It is reported that the largest waste company in the Republic, Beauparc Utilities, has attracted takeover approaches from dozens of private equity firms. This comes after speculation that Blackstone, its minority shareholder, set about putting its stake on the market late last year.

The approaches may result in an outright purchase of the owner of the Panda and Greenstar waste firms for as much as €1 billion. Blackstone acquired a 37.6% in Beauparc two years ago for an undisclosed sum. The remainder of the company is almost entirely in the hands of its founder, Eamon Waters.

Source: Irish Times

EXAMINERSHIPS/RECEIVERSHIPS

Viking Splash Tours is bought out of Liquidation

Viking Splash Tours, the amphibious-vehicle tour of Dublin, which culminates in a trip on the Grand Canal Basin in the docklands, has been bought out of liquidation by Liverpool City Sights. Great news for the Philip Oliver run business. McStay Luby’s Dublin team (Jim Luby, Stephanie Furey and Maria Zapciu) and David Rubin & Partners UK team (David Rubin and Charlotte Jobling) advised on the deal, so too did Field Fishers Dublin team (Jamie Woodcock, Mark Woodcock and Feilim O’Caoimh).

Source: LinkedIn

COMPANY PERFORMANCE

EBITDA  is an accounting term and is often the best indicator of profitability in non-capital intensive businesses before financing and tax are considered. In capital-intensive businesses EBIT or EBITDA less average Capital Expenditure are often better measures. YoY is an acronym for the year-on-year movement in turnover, EBITDA, etc.

With offices in Dublin, Cork and Galway, ICT services focused PFH Technology Group provides applications, infrastructure, security, communications and managed services solutions to enable companies efficiently and operate with agility.

In its financial year to June 2019, the company reported revenue of c. €87.2m (up 12.8% YoY) and EBITDA of c. €7.5m (up 21.8% YoY). The company’s cash balance at the end of the year stood at €2.7m, a decrease of c. €1.9m from the previous year.

PFH Technology Group employed an average of 306 people during the year at a cost of c. €16.9m.

Power City is one of Ireland’s most recognisable names in electronics distribution.

In its most recent financial year to September 2019, Power City Ltd. recognised revenue of c. €89.1m (up 1.5% YoY) and EBITDA of c. €8.3m (down 1.6% YoY). The business had an ending cash balance of c. €32.7m which represented a decrease of c. €8.9m YoY. Its €12.2m cash outflow for other activities included €10.1m pension fund contribution.

Power CIty Limited is owned by multiple McKenna family members including Dermot, Liam, Aidan, Colin and others. During FY 19, the business employed an average of 255 people at a cost of c. €8.0m.

Burtse Limited is an investment holding company for a group of companies involved in the licencsed vintners trade and the rental of properties. Some of the most notable subsidiaries include The Stag’s Head and Kehoes pub. Multiple Fitzgerald family members own Burtse, including Louis Fitzgerald.

In its financial year to June 2019, Burtse Ltd recognised revenue of c. €71.4m (up 2.1% YoY) and EBITDA of c. €18.9m (up 56.7% YoY). EBITDA outperformance was enabled by a c. €6.7m reduction in administrative expenses YoY. There was an ending cash balance of c. €29.9m against debt of 51.6m.

The group employed an average of 892 people at a cost of c. €18.2m.

RECENT FUNDRAISINGS

Who: CameraMatics, an Internet of Things (IoT)-focused company that has developed technology to enable companies to better manage fleet and driver risk, has secured funding.

What: CameraMatics has raised more than €4 million in a Series A investment round from a stellar consortium of investors led by Puma Private Equity, along with existing investors Sure Valley Ventures and Enterprise Ireland.

Legal advisers were Alan Ryan (Partner) and Michael Bambrick (Associate) of Wallace Corporate Counsel LLP. HMT (UK) acted as Financial advisers.

Why:  The funds will be used to support further expansion of the US branch of the business and drive forward the recent entry into the mainland European market. CameraMatics expects to create more than 50 jobs over the next two to three years in Ireland along with other roles in the UK, US and mainland Europe.

Source: CameraMatics

Who: Dublin-headquartered Frankie Health, a start-up that has developed a technology platform aimed at supporting employee mental wellbeing, has raised funding.

What: The company has raised $1.25 million (€1.03 million) in funding. Hong Kong-based E15 VC led the investment and previously provided €250,000 to an earlier incarnation.

Why: The funds will be used to add 20 new employees to its team over the next 12 months with roles across engineering, design and marketing.

Source: Irish Times

Who: Bleeper, formerly known as Bleeperbike, has raised funding.

What: Bleeper has raised close to €600,000 through the Davy EIIS fund, a joint venture between accounting firm BDO and stockbroker Davy. It brings to €1.3m the total funding raised by the company since it was founded by Hugh Cooney in 2016. Other backers include Enterprise Ireland.

Legal advisers to Bleeper Alan Ryan (Partner) and Graham Coyne of Wallace Corporate Counsel LLP

Why: It is assumed the funds will be used to expand their bike fleet and launch e-scooters.

Source: Irish Times

Who: SalesOptimize, a Dublin-based market intelligence company founded in 2015 by Liz Fulham.

What: €2m funding round. Backers include Telefonica, Wayra, Enterprise Ireland and a private investor. This latest round brings SalesOptimize’s total funding to €5m.

Why: 
Support the continued growth of the business.

Source:
 Sunday Independent

Who: Manna Aero, an Irish drone delivery startup founded by Bobby Healy.

What: 
The business has secured backing from Stripe’s John and Patrick Collison. The value of the investment is not reported. Up to the end of last year, the business had raised c. $10m.

Why: Expected to be used for the continued development of the business.

Source: 
Business Post

Who: Silicon Kingdom, a carbon-capture company founded by former oil industry executive John McKeon. The company plans to build a forest of “mechanical trees” – large fans designed to suck carbon dioxide from the air and store it for alternative later uses.

What: 
The business has completed a £1m funding round.

Why: 
Expected to be used for the continued development of the business.

Source: 
Business Post

Who: FoodMarble, a Irish startup founded by Aonghus Shortt which has built a breath test device and app that help find the foods that are most compatible with your digestive system.

What: 
The business has completed a €2.1m funding round. Investors include former Ornua boss Kevin Lane, Sean O’Sullivan’s SOSV fund, medical device entrepreneur John O’Dea, as well as Delta and UK fund Breed Reply.

Why: 
Expected to be used for the continued development of the business.

Source:
 Sunday Time

EXECUTIVE AND BOARD APPOINTMENTS

We in Renatus believe that more important than the deals are the people and we have teamed up with leaders in this field Korn Ferry to provide you with details of key recent executive and board level appointments.

Donal Cantillon

Source:
(Google Images & LinkedIn)


John Ring

Source:
(Google Images & LinkedIn)


Rose Hynes

Source:
(Google Images & LinkedIn)


Lesley Williams

Source:
(Google Images & LinkedIn)


Maireadh Dale

Source:
(Google Images & LinkedIn)


Jonathan Murphy

Source:
(Google Images & LinkedIn)


Cian McLaughlin

Source:
(Google Images & LinkedIn)

THOUGHT FOR THE WEEK

Some light-hearted positivity during a challenging time.

We have heard this quoted twice in the past week, historian James Westfall Thompson 100 years ago compared the aftermath of the 14th century Black Death and the Great War. Both unleashed “frenetic gaiety, wild expenditure, luxury, [and] debauchery”. We are indifferent to the emergence of the latter, but let’s hope for all of us in business that frenetic gaiety and wild expenditure will follow this lockdown!

@RenatusCapital Tweets

€1.2bn

The sum spent on groceries by Irish shoppers in December 2020, a new record, up from €1bn in December 2019. According to @Kantar_UKI . @IndoBusiness

15.7%

The combined increase in the number of new electric and hybrid cars licensed in 2020, accounting for 16,594 cars compared to 14,343 cars in 2019. According to @CSOIreland

-25.6%

The decline in the total number of new cars licensed in Ireland during 2020, a decrease of 29,000 vehicles compared with 2019. According to @CSOIreland

6. 7%

The year-on-year increase of new loan agreements by businesses in Ireland in November 2020, amounting to €1.2bn, showing growth for the first time since Covid began. According to @centralbank_ie . @IndoBusiness

10%

The year-on-year rise of goods imports to Ireland for November 2020, accounting for €8,511m worth of goods, when compared with November 2019. According to @CSOIreland

16.0% & 8.2%

The respective quarterly growth in terms of Gross Value Added for Non-Multinational dominated sectors & MNE sectors as of Q3 2020. According to @CSOIreland

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ABOUT RENATUS

Renatus was established in 2014 to provide growth funding to growing Irish SMEs and to partner with ambitious management teams to help companies reach their full potential.

Renatus targets companies with sustainable earnings of €1m+ and valuations typically in the range of €5m – €20m. Our typical solutions include:

  • Succession planning
  • Management buyouts
  • Management buy-ins
  • Growth financing – both organic and acquisition growth financing
  • Full and partial share sale.
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Our Knowledge Centre is filled with insights from some of Ireland’s top business leaders on Succession Planning, Management Buyouts / Buy-Ins, Growth Financing and much more.

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    Adrian Stackpoole, Digital Marketing Associate

    • Adrian joined Renatus in 2018, initially as a Marketing Executive before moving into the role of Digital Marketing Associate. As part of his role, Adrian manages all the digital marketing aspects of Renatus as well as conducting digital research for portfolio companies.
    • Adrian holds with a BBS degree in Marketing and Entrepreneurship from the University of Limerick, as well as a Postgraduate degree from The Digital Marketing Institute.
    • Prior to joining Renatus, Adrian worked in New York with a start-up hospitality group, specalising in marketing and operations.
    TIERNAN O’HAGAN

    Tiernan O’Hagan, Associate

    • Tiernan recently joined Renatus Capital Partners as a Private Equity Associate. As part of his role, he researches and analyses the potential of new investments and acquisitions
    • Tiernan graduated with a B.Sc in business and law from DIT Aungier street & an MSc. in Entrepreneurship from Trinity College Dublin.
    • Previously worked with Capnua Corporate Finance for three months during a summer internship.
    • Tiernan is also in the process of sitting ACCA exams.
    Bronagh Kearns Renatus

    Bronagh Kearns, Associate

      • Bronagh recently joined Renatus as a Private Equity Associate. As part of her role, she will be researching and executing investment opportunities.
      • Bronagh holds a MSc in Quantitative Finance from UCD Michael Smurfit Business School and a BSc in Finance from University College Cork. Currently, Bronagh is in the process of obtaining the ACCA qualification.
      • Prior to joining Renatus, Bronagh worked as an Investment Banking Analyst in Rubicon Capital Advisors where she worked on M&A transactions on the execution side and financial modelling in the infrastructure sector. She also worked as an Investment Associate in River and Mercantile Solutions in London quantitatively screening different investment opportunities across all asset classes.
    Alan Manning Renatus

    Alan Manning, Associate

    • Alan joined Renatus Capital Partners in September 2021 as a Private Equity Associate. As part of his role, Alan researches and analyses potential investments and acquisitions.
    • Alan holds a B.Sc Finance from University College Cork.
    • Previously working in KPMG’s Consulting division, with the Financial Management Consulting team. During his time there he was engaged on a Finance Function Review for a European Travel Technology firm, and a review of the cash management strategy of an Irish Commercial Bank.
    • In the process of sitting ACCA exams.

    Conor Hall, Associate

    • Conor joined Renatus Capital Partners in June 2018 as a Private Equity Associate. As part of his role, Conor researches and analyses potential investments and acquisitions.
    • Conor holds an M.Sc. in Quantitative Finance from UCD Michael Smurfit Graduate Business School and a B.Sc. in Economics & Finance from UCD. He is currently working towards attaining the ACCA and CFA qualifications.
    • Prior to joining Renatus, Conor worked as an Analytics Analyst with Accenture, specialising in predictive modelling for fraud.

    Kyle Barry, Associate

    • Kyle joined Renatus Capital Partners in June 2016 as a Private Equity Associate. As part of Kyle’s role, he researches and analyses the potential of new investments and acquisitions.
    • Since joining, Kyle has worked on numerous transactions, including Simtech and Rennicks, and has worked with Renatus’ investee companies on a number of strategic projects.
    • Kyle holds an MSc. in Quantitative Finance (University College Dublin) and a BA Finance (Maynooth University). Currently, Kyle is in the process of completing the ACCA qualification.
    • Prior to joining Renatus, Kyle spent 15 months in Intel’s Finance department where he worked across the financial reporting, tax and capital financing teams.

    Philip Gardiner, Associate Director

    • Philip is an Associate Director with Renatus Capital Partners, having first joined the firm as its first employee in 2014.
    • Philip has responsibility for screening, assessment and structuring of new acquisitions.
    • He has worked on a number of transactions at Renatus including Boojum Mexican Restaurants and Simtech Aviation. Philip works actively with the boards of Boojum and Simtech Aviation.
    • Prior to joining Renatus, Philip spent four years in AIB’s corporate banking team where he worked on a mix of real estate and cash flow lending deals.
    • Philip is a member of the ACCA and holds an MSc. in Financial Services and a Bachelor in Business Studies, both from the University of Limerick.

    Jane Martin, Marketing and Administration Manager

    • Jane joined Renatus Capital Partners in June 2019 as a Marketing and Administration Manager. As part of Jane’s role, she writes the weekly newsletter, works on the CRM and looks after the admin and ad hoc tasks
    • Prior to joining Renatus, Jane worked as a Senior Account Manager in Mace Promotions where she worked closely with many SMEs as well as large corporations on their marketing projects

    Mark Flood, Director

    • Mark co-founded Renatus with Brendan Traynor in 2014. Prior to establishing Renatus, Mark spent seven years on the senior management team of the Racing Post in various operational and commercial roles. Before founding Renatus, Mark was Managing Director of the Racing Post’s Irish operation.
    • Prior to his career in the Racing Post, Mark was the first employee of FL Partners, an Irish based international private equity firm, where he was actively involved in over €300m worth of transactions.
    • Mark combines his financial, operational and commercial experience to bring value and energy to all partner companies.
    • Mark is a Chartered Accountant and holds a Bachelor of Commerce and Masters in Accounting from NUI Galway.

    Brendan Traynor, Director

    • Brendan is a co-founder of Renatus. Prior to establishing Renatus, he was a Director in BDO Corporate Finance specialising in M&A, MBO’s/MBI’s, debt and private equity fundraising across a diverse range of sectors and clients.
    • His career focus and passion is the Irish SME sector and his deal expertise covers sectors such as retail, manufacturing, FMCG, healthcare, avaiation, media, medical devices, food and agriculture, construction, and hotels and leisure.
    • Brendan is a Chartered Accountant and holds a Bachelor of Commerce from University College Dublin

    Conor Mehigan, Associate Director

    • Conor joined Renatus Capital Partners in 2021 as an Associate Director. Conor has responsibility for screening, assessment and structuring of new investments and acquisitions.
    • Prior to joining Renatus, Conor spent five years in IBI Corporate Finance specialising in M&A, debt and private equity fundraising for private and public companies across a range of sectors. Prior to his career in IBI Corporate Finance, Conor spent four years in Deloitte’s Corporate Finance Division, specialising in Transaction Services
    • Conor is a Chartered Accountant and holds a BSc in Finance from University College Cork

    Greg Dilger, Strategic Advisor

    • Greg Dilger is a former Executive Director of NCB Stockbrokers and Investec Wealth & Investment.
    • He is an investor and advisor to Renatus and brings years of relevant experience to our team.
    • Greg is also currently a Non-Executive Director of Brewin Dolphin Ireland.

    Joan McGrath, HR Advisor

    • Joan has supported Renatus since 2019 on HR matters. Supporting recruitment, onboarding and people development at Renatus as well as partnering with the team on key transactions providing HR Due Diligence and strategic HR advice.
    • Joan was previously the Head of Human Resources at Davy and was a Board Director there for many years and played a key role in numerous acquisitions. During her career, she has worked in a range of industries from microelectronics manufacturing to builders merchants ensuring the people strategy is a core part of business strategy.
    • Joan has a Bachelor of Commerce degree, a Masters in Business Studies and a Diploma in Occupational Health and Safety from UCD. She is a Fellow of the Chartered Institute of Personnel and Development and has a Certificate in Governance.

    John Dwyer, Chairman

    • John joined Renatus in 2018 as a Chairman. Prior to Renatus, John spent 30 years at PwC in the UK, 20 years as a Partner, John led the UK and Global Deals business at PwC and was an executive board member of the UK firm.
    • Prior to that, John led the UK and Global Private Equity business at PwC and worked with firms including 3i Group, Apax Partners, CVC Capital Partners and Cinven.
    • John is married to Natasha and they have three children. John works between Dublin and London and his charity work includes chairmanship of Irish Youth Foundation UK.
    • He is an advisor and Board member of Irish digital marketing firm Pigsback and media firm Racing Post.
    • John is a Chartered Accountant and holds a Bachelor of Commerce from UCD.