Please find below this week’s newsletter covering the latest M&A, company performance, fundraisings and executive moves.
Please find below this week’s newsletter covering the latest M&A, company performance, fundraisings and executive moves.
This is our last Newsletter of 2021 and we’d like to take this opportunity to thank you for your continued support during the past year.
We wish you and your families joyful Christmas and good health and fortune for the New Year.
Deal Details: Agilitas, the pan-European mid-market private equity firm, has backed the buyout of Prodieco Advanced Engineering Solutions. The transaction details were not disclosed.
Dublin-headquartered Prodieco, founded in 1962, is the largest independent global provider of high-performance blister tooling change parts for the pharmaceutical industry.
Prodieco employs over 230 highly skilled people globally and provides its products and services to customers in over 55 countries across multiple continents.
Agilitas, headquartered in London, was founded in 2011 by a team of former colleagues. The firm’s main targets are mid-market businesses with enterprise values between around €50m and €300m across Western Europe in a range of sub-sectors such as environmental technologies and services, education or essential infrastructure.
Grant Thornton- Paddy Dillon, Ann-Marie Costello, David Cole and Michael Hogan.
McCann Fitzgerald provided legal advice.
Deloitte- Jan Fitzell, James Toomey and Aine Sheehan.
Renatus Comment: Prodieco was acquired by the late Robin Rennicks, a serial entrepreneur in 1999. The business has grown exponentially under the stewardship of Robin, his wife Maureen and his sons Andrew and Conor who grew the business internationally where it now serves customers in 55 different countries. Agilitas has had an extremely active 2021. The pan-European private equity player closed its third fund which amounted to €565m earlier in the year. Prodieco is its fourth deal since this new fund was launched.
Source: Agilitas Press Release; PENews.com
Deal Details: Phoenix Labs has acquired RiceSteele for an undisclosed sum.
RiceSteele is one of Ireland’s leading manufacturers of OTC pharmaceutical products. It is best known for its range of paediatric analgesics and a range of effervescent multivitamin products. It has a manufacturing focus, producing own-brand products, and providing contract manufacturing services from its Dublin manufacturing facility. Prior to the deal, the business was owned by John McCormick and Brice Pharmaceuticals Limited.
Phoenix Labs is an integrated healthcare company operating in the prescription and OTC market segments. Its products are marketed globally, including countries across Western Europe, Scandinavia, the UK, and Eastern Europe. The business had turnover of €27.8m in FY20. The business is owned by Larry McGowan.
IBI Corporate Finance- Raymond Donegan and David Banks.
Renatus Comment: Pharmaceuticals, medical, and biotech have been the second-largest sector for M&A, by value, in Ireland during H1 2020. Phoenix Labs was founded in 2000 and has become one of the biggest players in the pharmaceutical space with Uniflu, Eputex, Arthrimel, Bloateze, Casacol, Paracetamol and Nasosal in its stable of OTC brands. The business also produces a variety of prescription products.
Source: IBI Corporate Finance Press Release
Deal Details: Meteor Mobile Communications Limited is to acquire certain assets of Synchro Managed Services Limited. Deal details have not been disclosed and the deal is subject to approval by the Competition and Consumer Protection Commission.
Meteor is a subsidiary of Eircom Limited. Eircom Limited is owned by the eir group, providing a range of voice, broadband, and television services to retail, residential and enterprise customers.
Synchro Managed Services has been operating and managing a network of eir branded retail outlets, previously branded as Meteor, for eir since 2011. Synchro Managed Services had a turnover to March 2020 of €28.1m. Synchro Managed Services is owned by Brendan O’Hagan and Ian Gavin.
Advisers: None mentioned.
Renatus Comment: Synchro was established in 2010, in a partnership with eir and is currently operating 41 eir stores around the country, to provide service and support to customers at a local level. As retailers increasingly move their presence online following changes in consumer trends during the pandemic, eir’s focus on their physical retail presence demonstrates that they still consider it to be a key route to market, with online sales not being fully substitutable for the in-person services which many broadband and phone customers require.
Deal Details: MML Growth Capital Partners has acquired a minority stake in Dublin-based, Cruinn Diagnostic for a reported €12m. The deal is subject to approval from the Competition and Consumer Protection Commission.
MML’s investment is being made through the MML Growth Capital Partners Ireland Fund 2. The €145m fund is backed by the Irish Strategic Investment Fund among others.
Cruinn Diagnostics, established in 1998 and based in Dublin, is one of Ireland’s leading suppliers in the laboratory, medical and healthcare markets. Its product portfolio includes a range of diagnostics including Clinical Chemistry, Immunoassay, Haemotology, Microbiology, Auto Immune Seroology and Real Time Molecular Diagnostics. The business is led by Jack Nolan, Managing Director, who co-founded the business with Vincent Foley and Peter Hussey. The business delivered average revenues pre pandemic of €20m in FY 18/19. This increased to €32m in 2021.
Focus Capital Partners- Alan Kelly, Paddy Dooley and Dermot Brennan.
William Fry provided legal advice.
Dillon Eustace provided legal advice.
Deloitte provided financial and tax due diligence,
PwC provided commercial due diligence.
Renatus Comment: This investment is MML’s third in the last 16 months, following investments in CG Power and Natural World Products. MML has enjoyed successful exits from its first fund including Lowe, H&MV, Ashdale, Sonas and Identigen.
Source: Irish Times
Deal Details: DCC, an Irish energy and services group, has acquired Almo Corporation for a reported $610m (€542m), on a cash-free debt-free basis.
DCC plc is a leading international sales, marketing, and support services group, based in Ireland. It operates through four divisions: LPG, retail & oil, healthcare, and technology. The group is led by CEO Donal Murphy. DCC plc had revenues to March 2021 of €15.6bn, which converted to an EBITDA of €791.5bn.
Philadelphia-based Almo was founded in 1945 by the Chaiken family, who have owned and operated the business for the last 75 years. It is led by CEO Warren Chaiken. Almo is one of the largest Pro AV businesses in the US and is a leading distributor of consumer appliances, consumer electronics and lifestyle products. In its financial year to April 2021, the business had revenues of $1.3m, which converted to an EBITDA of $75m.
Advisers: None mentioned.
Renatus Comment: DCC has announced 12 deals during 2021, across the US, Europe, and the UK. The group is increasing its North American focus and the Almo acquisition is a prime example of this. The combined entity will become the leading, specialist, Pro AV business in North America, significantly expanding DCC’s technology arm.
DCC is trading below the 10x Enterprise Value to EBITDA which is hard to understand relative to other plcs given the quality of management and earnings.
Part of the acquisition rationale may be the ESG drive and DCC’s fossil fuel interests. However, DCC’s Technology and Healthcare units are growing and it is focusing on positioning its Energy Division to show improvements in sustainability positioning.
Source: DCC Press Release
Deal Details: American car rental agency giant, Enterprise Holdings has announced its plans to acquire Dublin-based Walker Vehicle Rental through an Irish subsidiary. The deal consideration has not been disclosed and is currently subject to regulatory approval.
Walker Vehicle Rental was founded in 1991 and operates from six locations throughout Ireland including Dublin, Cork, Wexford, Limerick, and Antrim. The business employs c. 70 people and has a fleet of c.1,300 commercial vehicles. Walker Vehicles operating company, Eastcrest Ltd reported a turnover of c. €22.6m in 2019. Following completion of this acquisition, Walker will operate as part of Enterprise Flex-E-Rental Division.
Enterprise Holdings was founded in Missouri in 1957 and today operates under the brands Enterprise Rent-A-Car, National Car Rental, and Alamo Rent a Car. The business reported revenues of c. $22.5bn in 2020. Enterprise entered the Irish market in 1997 and operates from 24 locations throughout Ireland employing c. 200 people.
Advisers: None mentioned
Renatus Comment: Enterprise is a global player in the vehicle rental space and is an active acquirer having invested over $2.7bn on acquisitions throughout the past ten years. This is the business’s second transaction in the Irish market, following the acquisition of Dooley Car Rentals in 2017, a similar-sized business focused on general consumer car rentals. Acquiring Walker, a commercial vehicle-focused business, is a clear move to develop their alternative vehicle offering in the Irish market.
Since the business was acquired in 2004 by Declan Malone, Francis Cunningham & Dave McCormack, Walker has experienced steady yearly growth with a small drop in revenue in 2020, likely resulting from COVID disruptions.
Source: Enterprise Press Release
Deal Details: Nostra, a leading Managed I.T service provider has acquired Dublin-based Enclave Technologies for an undisclosed amount.
Nostra, headquartered in Dublin 12 and led by CEO Kevin O’Loughlin, specialises in outsourced IT for over 280 companies with 600 offices supported in 18 countries around the world. Following the acquisition Nostra will employ 200 people.
Nostra has the highest accreditations with leading innovators and is a provider of services and software created by the most successful names in global technology (Microsoft Gold Partner, SonicWall Platinum Partner, Datto Blue Diamond Partner).
Enclave Technologies is a supplier of IT support and IT managed services, providing end-to-end IT services to some of the most familiar businesses and brands in the country. Enclave’s 20 employees will join the existing Nostra team. Peter Hennessy was the sole owner of the business.
Nostra’s advisers and finance partners:
Grant Thornton deal advisory- Gareth Cosgrave.
McCann FitzGerald- legal adviser.
BCA Tax Advisors- tax adviser.
Bank of Ireland – debt funder.
Renatus Comment: Kevin O’Loughlin, CEO of Nostra was a finalist in the 2017 Ernst & Young Entrepreneur of the Year Awards. Nostra has just been listed in this year’s (2021) Deloitte Fast 50 – The 50 fastest growing tech companies in Ireland.
An Enterprise Ireland client, Nostra is forecasting double digit growth in the next few years and is on course to reach a turnover of €30 million by the end of 2022 and €100 million over the next five years via organic growth and further acquisitions. The company has recently undergone a complete rebrand and digital makeover and has invested over €500,000 in both a new premises and rebranding project. The brand-new state of the art office in Parkwest was designed to allow for virtual working and or ‘in office’ collaborations.
Source: Nostra Press Release
Deal Details: Irish vehicle leasing and fleet management group, Autolease Fleet Management, has announced a joint venture with AIB who will acquire a 50% stake in the business. The deal consideration was a reported €6m upfront with further investment from AIB over time. The deal is currently pending approval from the CCPC.
Autolease Fleet Management, trading as Nifti Personal Leasing (business to consumer’s arm) and NiftiBusiness (business to business arm) was founded in 2015 and is based in Dublin. The business offers fleet management and vehicle leasing with a focus on sustainability and hybrid/electric vehicles. As of 2019 the business employed a total of 27 staff and reported a turnover of c. €15.3m. The business is 50/50 owned by Irish Bison Limited, a private company that is engaged in various investments and controlled by Raymond Coyle, and Windsor Motors Group, the parent company of Autolease.
AIB Group is a financial services group that operates AIB, one of Ireland’s largest banks. The group is headquartered in Dublin and traded on the London stock exchange. The expressed purpose of this acquisition was to increase the adoption of electric and hybrid vehicles in Ireland. The group is currently trading at c. 188.75GBX.
Byrne Wallace- Neil Keenan, Eamonn Carey, Aisling Brennan and Tara O’Donohue.
Renatus Comment: This acquisition is likely on the back of AIB’s second green bond issuance in May of this year. The sale of green bonds requires the money raised to be put toward environmentally friendly investments and Autolease Fleet Management, with their focus on sustainability and electric vehicles likely fit these criteria. This deal comes just weeks after various media criticisms of the Irish government’s plans to reach ambitious electric vehicle targets. AIB was the first bank in Ireland to raise funds through a green bond sale.
Source: The Irish Times
Deal Details: Irish-based start-up ConX has been acquired by US-based Houzz for an undisclosed sum.
ConX is a SaaS platform offering simple, affordable estimating and tender management tools built specifically for builders and subcontractors. The company’s software allows contractors to generate professional estimates from simple on-screen construction plans up to 10x faster. The business was founded in 2014 by Dubliner, Annie Slattery, Kerry-man, Jonathan Clarke, and Keith Moore. The company is headquartered in Sydney, Australia.
Houzz develops an online home design and furnishings platform that connects homeowners, home design enthusiasts, and home improvement professionals. It enables local brands and businesses to advertise on its platform, whilst also allowing professionals to build their online presence with a professional profile. The company is led by CEO Adi Tatarko, who co-founded the business with Alon Cohen. To date the business has raised €542.41m in funding, valuing it at €3.57bn in its latest seed round.
Advisers: None mentioned.
Renatus Comment: The deal follows an emerging pattern of strong tech start-ups here in Ireland, with companies either being acquired by large US players, or achieving unrivalled valuations themselves.
Source: RTE News
Deal Details: OncoMark, a UCD spin-out, has been acquired by Cepheid Inc., a US molecular diagnostic company. The transaction was completed in March for an undisclosed sum.
OncoMark, co-founded by Professor William Gallagher and Steve Penney, developed a novel test for early-stage Breast Cancer (OncoMasTR) that has the potential to reduce the number of breast cancer patients receiving unnecessary chemotherapy.
Cepheid is an American molecular diagnostics company founded in 1996. The California-headquartered company employs c. 6,000 people and has annual revenues of $531m.
Flynn O’Driscoll LLP provided legal advice.
Grant Thornton advised on tax aspects.
Mason, Hayes & Curran provided legal and tax advice.
Renatus Comment: The spirit of entrepreneurship is alive and well in UCD with OncoMark being the sixth UCDNova-based business to feature in this newsletter since 2020. We are seeing lots of success stories from these on-campus R&D success stories and hopefully, these successes will create more in the future. We commented on this when Nutriband sold which was the commercialisation of a DIT thesis. Other company successes from this kind of model include Biosensia, Movidius, Swrve, Fieldaware, Glonav, and PolarLake. Following this transaction, the next stage of testing of OncoMarks breast cancer detection system will occur in Cepheid’s world-leading GeneXpert Platform through which various other tests including Covid and HIV tests were brought to market. The staff of OncoMark will move to a new venture, OncoAssure where various other cancer detection products will be produced with the latest focusing on prostate cancer.
Source: UCD; Cepheid Inc.
Deal Details: Belfast-based Crane Communications Limited has been acquired by British EA-RS Group. The deal consideration was not disclosed.
Crane Communications is a life safety, security, and communications company that operates throughout the UK and Ireland. The business is involved in the design, supply, installation, and maintenance of a range of technology systems including CCTV, lighting, entertainment, access controls, Alarms, and AV. The business is majority-owned by David and Nicola McConkey who acquired the business in 2000 from founder Roy Logan.
EA-RS Group is a fire safety and security services group made up of EA-RS Fire Engineering, Circum Fire Engineering, and CCSS Fire & Security. The business received investment from the Richardson family business (RCL Partners) and Rockpool Investments earlier in the year to finance various acquisitions.
Crane Communications advisers:
HNH (deal advisory)- Chris Hylands, Eamonn Donaghy, and Wayne Horwood.
A&L Goodbody (legal)- David Rowan and Laura Barron.
Renatus Comment: This acquisition is the fourth EA-RS have completed since receiving acquisition funding earlier in the year. Crane Communications joins West Midlands-based, CCSS Fire & Security, AST London, and the trade and assets of Essex Fire Sprinklers as new additions to the EA-RS group in 2021. Prior to this latest acquisition, EA-RS was completely focused on England, Scotland and Wales. Acquiring Crane Communications allows the business to expand its service offering group-wide and begin trading on the island of Ireland.
Source: EA-RS Press Release
Deal Details: Irish renewable energy business, Power Capital Renewable Energy (PCRE) has acquired six ‘ready to build solar farm’ sites from UK-based Renewable Energy Systems (RES). The deal consideration was not disclosed.
PCRE was founded by Peter Duff and Justin Brown in Ireland in 2011. The business specialises in developing large-scale solar farms and has undertaken projects throughout Europe. This latest acquisition will see PCRE invest c. €140m to develop fully functioning solar farms on the sites which are located in Galway, Waterford, Clare, and Kildare.
RES is a UK-based global renewable energy company that has been operational for almost forty years. Throughout 2020 the business employed c. 2,700 staff and reported a turnover of c. €970m.
Power Capital Advisers:
Philip Lee- Eoghan Doyle, supported by the Energy transaction team of Siobhan McCabe, John O’ Donoghue, Hugo Grattirola, Maeve Delargy and Elaine Whelan.
Renatus Comment: Paris-based Omnes Capital acquired a majority stake in PCRE in November of last year with the expressed intention of growing PCRE’s energy portfolio to 500 megawatts (0.5 gigawatts). PCRE has far surpassed this target with this latest investment bringing PCRE’s total energy portfolio to c. 1,100 megawatts (1.1 gigawatts). For context, in 2020 Ireland had a solar capacity of just 40 megawatts (0.04 gigawatts). While this is an impressive jump the Government’s targets of hitting 70% renewables on the power grid by 2030 will require a lot more continued investment into the renewables infrastructure. The renewable energy sector has been an active space for some time now with wind having been a dominant investment strategy, and solar now taking a bigger focus. To meet national targets, multiple sources of renewable energy generation will be required. It will be a space to watch for a long time to come.
Source: The Irish Times
Deal Details: IAG is set to cancel its acquisition of Air Europa from Spanish company, Globalia.
IAG, owner of Aer Lingus and British Airways, had been set to acquire the airline for €500m. Competition regulators however, have concerns that the deal would reduce the level of competition in the Spanish domestic market.
Source: Irish Examiner
Deal Details: Fane Valley Co-op and Freshgrass have agreed a deal for 50/50 joint ownership of Drummonds. The deal is subject to CCPC approval.
Fane Valley, headquartered in Northern Ireland, has four business divisions: Fane Valley Feeds, Fane Valley Stores, Fane Valley Foods and Burke Shipping.
Drummonds is an agri-merchant supplying agricultural inputs. It owns and operates retail, manufacture and distribution facilities in the North-East.
Source: CCPC; Farming Life
Deal Details: It is reported that NatWest and PTSB have signed a binding agreement for PTSB to acquire €6.8bn of mortgages and business loans from Ulster Bank.
The deal also includes 25 of Ulster Bank’s branches in the State, will be funded by €6.4bn of cash, plus NatWest taking an expected 90.9 million of new PTSB shares. That will give it a 16.7% stake, worth about €136m, based off PTSB’s closing share price on Thursday.
PTSB’s loan book will grow by 40%, after more than a decade of shrinkage in the wake of the financial crash, and will see its branch network expand by 30% as a result of the transaction.
Source: Irish Times
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
Aghalaoise Distribution Limited and Subsidiaries, trading as “Jones Oil”, distributes oil in Ireland, supplying the domestic, agricutural, commercial, industrial and marine markets. In 2021 the company became a subsidiary of DCC plc. DCC acquired te company from Patrick Nevin, Paul Curran and Des Broderick.
In the financial year to December 2020, the business had turnover of €123.8m, a fall YoY, but this converted to an EBITDA of €4.3m, an increase of 157.4% YoY. This increase was primarily driven by an increased gross margin, up from 6.96% to 10.42% YoY.
The business finished the year with a cash balance of €8.9m, an increase of 81.5% YoY, driven by an increase in profits. The business employed an average of 126 people at an annual cost of €5.1m.
W.J McColgans and Co. Limited, trading as McColgans, was founded as a tea shop in 1940 but pivoted to producing various pastry products in the 1970s. McColgans is now an award-winning producer of various savory pastries and operates from a production facility in Strabane, Northern Ireland. The business was founded, and is still majority-owned, by the McColgan family with Patrick McColgan holding majority ownership.
Despite a difficult year for the foodservice and hospitality sector, which are McColgans’ largest customers, the business reported a turnover of c. £22.5m which converted to an EBITDA of c. £1.7m. McColgan’s revenues were split almost evenly between the UK and Ireland.
Significant cash flow movements included the purchase of tangible fixed assets for c. £673k and the repurchase of shares for c. £254k. The business finished FY21 with a closing net cash and cash equivalents balance of c. £1.6m, an increase of c. £237k from FY20.
The business employed an average of 347 people throughout 2021, representing an increase of 31 staff from FY20. This was at a cost of c. £6.75m.
Who: Altratech Ltd, a company started in the University of Limerick, which is developing a next-generation molecular detection solution, has raised funding.
What: The company has raised €5m in funding, with the Bank of Ireland Kernel Capital Growth Fund and Infinity Capital each investing €1.5m, with Enterprise Ireland also investing €500k.
Why: The investment will be focused on enabling Altratech to expand its current patent portfolio, with 7 patents pending in China, Japan, Europe, and the US, along with existing patents in the US and EU.
Advisors: Kernel Capital was advised by LK Shields, while Altratech was advised by Ronan Daly Jermyn.
Source: RTE News
Who: Educately, a Dublin-based educational platform that provides learning opportunities and educational networking. The business was founded in 2020 by Mohmmed El Sonbaty, Joan Manuel and Abdelrahman Aman.
What: The business has raised €1m in pre-seed funding. The funding round was led by Falak Startups (Egypt) and Enterprise Ireland and received participation from Seod Ventures.
Why: The funding is to be used to hire new staff, expand sales and marketing and accelerate product development.
Source: The Irish Times
Who: Zyte, a Cork-headquartered internet data extraction company, has raised funding.
What: The company has raised €3m in debt funding from US-based Silicon Valley Bank.
Why: The funding will give the company increased financial slack, allowing the business to accelerate the business plan with investments in sales and marketing activities along with product development.
Source: Irish Independent
Who: Bounce Insights, a Dublin-based consumer insights platform that connects companies with customisable audiences. The business was co-founded in 2019 by Brian O’Mahony, Charlie Butler, Rónán Dowling, Brandon Dooley and Josh Stafford.
What: The business has brought their total funding to €750,000. Its latest funding round received participation from Gareth Lambe, Michael Dwyer and Niall O’Sullivan.
Why: The funding will be be used to recruit new staff and accelerate their UK launch
Source: The Independent
Who: Irish home-buying platform Lintil, co-founded and led by CEO Emmet Creighton, has raised funding.
What: €250,000 funding is provided by Enterprise Ireland as part of its High Potential Startup (HPSU) programme.
Why: The financing will be used for expanding into UK.
Who: Content Llama, a Donegal-based platform that automates the collection, configuration and delivery of product content for e-commerce retailers. The business was founded by Katrina Kelly and Joleen Looney in 2019 and currently employs 423 staff.
What: The business has raised €2.5m in a funding round led by Elkstone Partners and the Western Development Commission.
Why: The funding is to be used to expand the business globally and hire new staff.
Who: Ornua, the State’s largest dairy exporter, has arranged a new debt facility.
What: €580m refinancing package comes from bank syndicate including Allied Irish Banks, Bank of Ireland, Bank of America (Europe), HSBC (Continental Europe), Rabobank (Dublin) and Bayern LB. A further €100m will be available, if required.
Why: The debt will be used to fund Ornua’s working capital requirements and its global growth strategy via strategic capital investment and acquisition. It will also fund the working capital requirements of Ornua’s member suppliers, Ireland’s dairy processors.
Source: Irish Times
Who: Various Irish airports have received government funding under the Regional Airports Programme 2021-2025, the Covid-19 Regional State Airports Programme 2021, as well as the Covid-19 Supplementary Supports Scheme for Irish Airports. The airports include Dublin, Cork, Shannon, Ireland West (Knock), Donegal, and Kerry.
What: The total investment amounted to almost €108m with the largest recipients being Dublin Airport (c.€80m), Cork Airport (c.€13.7m), and Shannon Airport (c.€10.1m).
Why: The funding is to be put toward supporting these airports through the COVID crisis as the aviation sector has struggled.
Who: Farra Marine, a Crew transfer vessel operator/supplier for the offshore renewable energy sector. The business is led by CEO, Martin Rice.
What: The business recently raised €5m from Cantor Fitzgerald clients.
Why: The funding will go toward increasing the businesses fleet, facilitating future growth.
Source: The Sunday Times
Who: Wrky, a cloud-based people experience and change management platform that helps leaders and people services drive measurable improvements with their people in, real-time. The business was co-founded by Brian Slattery, Barry Gordon and Paddy Doyle last year and is headquartered in DCU, Dublin.
What: The business is in the process of raising €1m, no details have as of yet been disclosed in terms of backers.
Why: The funding is to be put toward increasing staff numbers and fueling European and US expansion.
Source: The Business Post
We in Renatus believe that more important than the deals are the people and we are pleased to provide you with details of key recent executive and board-level appointments.
The past two years have served us many curve balls and a definite feature has been no boundaries between work and home. The best any of us could do holiday-wise was get away as opposed to switch off. For the majority of us who are lucky enough to be able to switch off the phone for a week or two, we should do exactly that and enjoy the time off air to truly recharge and come back next year full of energy. For those who are required on duty during the break, we hope you make sure to try and create time off air when you can. We wish you and your families a joyful Christmas and good health and fortune for the New Year.
The Ulster Bank Construction PMI for November 2021. A reading above 50 indicates growth. @RTEbusiness
The value of Irish exported goods and services for 2020 – the highest ever on record. @CSOIreland
15.7% & 14.1%
The YoY increase in the Irish agricultural input and output price index, respectively, for October 2021. @CSOIreland
The biennial decrease in the number of passengers using Irish Airports for Q3 2021, amounting to c. 2.1m passengers. @CSOIreland
3% & 21%
The YoY increase in the Irish goods imports and exports, respectively for October 2021. @CSOIreland
The YoY decrease in the Irish industrial production for October 2021, according to @CSOIreland
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