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Renatus’ Weekly M&A Newsletter – 06/10/2019
October 6, 2019
Renatus’ Weekly M&A Newsletter – 27/10/2019
October 28, 2019
October 20, 2019

Renatus sleeps out for 'Shine a Light', Crowleys DFK and Anne Brady McQuillans DFK announce merger, The Portmarnock Hotel and Golf Links has been acquired, and much more in this week's Renatus M&A Newsletter.

Renatus Private Equity Dublin, Ireland

Dear Reader,

You are receiving this mail every week as we see you as a key partner and we look forward to continuing to enjoy our journey with you over the decades ahead.

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

The Real Deal / ‘Shine a Light’

Last Friday night we slept rough for the Focus Ireland Shine a light campaign and got lucky with a dry night.

Adrian Stackpoole, Conor Hall, Kyle Barry and I were joined by our Real Deal co-organizers including Hilary Coates, Dave Mountjoy of Bank of Ireland and Stuart Fitzgerald and Noel Winters of Fitzgerald Power along with some of the ByrneWallace team.
We are not like Wikepedia looking for you to underwrite our editorial costs of this free newsletter but if you feel you are getting value and would pay a subscription if we charged, we encourage you to donate to our page which in conjunction with our Real Deal partners mentioned above, we have got to €12k, the overall tally is at €820k.
Shine a Light – Donation Page
To anybody who has already donated, thank you very much.
Having met the founder, frontline staff and some of those helped by Focus Ireland last Friday night, it is harder to ignore the statistics of c. 4k kids not having a home.  There are people like you and I who get wrong hops of a few balls ending up without a home and Focus Ireland seem to really position themselves to help those who want to help themselves out of their plight. I was struck not just by their compassion, which one would assume, but their sharpness, pragmatic approach to their cases and their energy.
Congrats to all of those business leaders who slept out Friday including but not limited to
Stephen Bowcott, Donagh Kelly, Alan Cox, Seamus English, Gerry Mullins, Sean O’Neill, Debbie Byrne, Orla O’Connor, Joanne O’Cleirigh, Catherine O’Kelly, Bobby Kerr, Tom Rohan, Mark Kavanagh, Nora Casey and many more.
Shine a Light – Donation Page

M&A ACTIVITY

Crowleys DFK and Anne Brady McQuillans DFK announce merger

Deal Details:  Accountancy firms and fellow DFK International members Crowleys DFK and Anne Brady McQuillans DFK have announced they are to merge on 1 January 2020.

The amalgamated firm, which will operate under the Crowleys DFK name, will see Anne Brady McQuillans DFK partners Natalie Kelly and Niall Grant, along with their team of 22 staff, move to Crowleys DFK’s existing Dublin offices at College Green.

Advisers: None mentioned

Renatus Comment: With a combined annual fee income of over €8 million, 110 staff and ten partners, the merger consolidates the firm as one of Ireland’s leading indigenous accounting, tax and advisory firms.

Source: Press Release by Grant Marketing

The Portmarnock Hotel and Golf Links has been acquired by Canadian hotel group

Deal Details: Canadian group Northland Properties acquired The Portmarnock Hotel and Golf Links for about €50m.

The north Dublin property includes the former family home of the Jameson whiskey distillers and boasts a links golf course that is frequently cited as being among the best in Ireland.

Northland Properties, established by billionaire Bob Gaglardi, own properties across Canada, the US and UK. Portmarnock Hotel is its first acquisition in Ireland. The property was sold by US property giant Kennedy Wilson, which also owns the Shelbourne Hotel.

Advisers: Patrick Quinlan and Diarmuid Mawe of Maples provided legal advice on this along with Newcastle-based firm, Muckle

Renatus Comment: Kennedy Wilson may just farm the Shelbourne or this could be an indication that they are taking profit on their hotel holdings and maybe they will sell the Shelbourne soon.

Source: Irish Independent

Novosco Acquired by CANCOM Group

Deal Details: Belfast-headquartered IT service provider Novosco is set to join the Munich-based CANCOM Group.

Novosco was founded by Northern Ireland entrepreneurs Patrick McAliskey and John Lennon. It employs around 300 people, mostly based in Belfast.
Its customer base include a wide range of public, private and voluntary sector organisations including several large UK NHS Trusts and housing associations.

In addition to the acquisition, it was announced that John Lennon, co-founder and current sales director of Novosco, will take over as joint managing director of CANCOM UK, with Martin Hess who is currently managing director of CANCOM UK. Patrick McAliskey, currently managing director of Novosco, will continue to be a shareholder of and advisor to CANCOM UK.

Advisers: None mentioned

Renatus Comment: The reported Enterprise value was £70m. This business was founded in 2007 so anybody worried about a turn of  the economy or that we are top of cycle should use this as an example that great businesses can be built and expanded during a recession.

Source: Novosco Press Release

Deals in the Making

Kilkullen Kapital Partners to acquire Irish Studio Media Publishing

Deal details: The owner of the Sunday Business Post has entered exclusive talks to buy the publisher of the Irish Tatler magazine, with a deal expected before the end of the month.

It is believed that a period of exclusivity between the parties has been agreed, and a target has been set to close the deal before the end of the month.

On completion the titles will come together under Post Publication Limited.

Ross Little of DWF Dublin is acting as a legal adviser for Irish Studio Media Publishing.

Source: Irish Times

Bank of China leads bidders to acquire Goodbody

Deal details: Bank of China is understood to be leading bidder for Goodbody Stockbrokers.

Goodbody is being sold by Kerry-based financial services group Fexco, which owns 51 per cent of the business, and the brokerage firm’s management and staff, who hold the remaining 49 per cent.

Goodbody’s larger rival Davy also remains in the mix and Irish Life is the final short-listed bidder, though according to sources it is a distant third in the race.

Source: Irish Times

EXECUTIVE & 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 details of key recent executive and board level appointments

DALATA, the Irish hotel group appoints new Independent Non-Executive Director
DALATA, the Irish hotel group, has appointed Elizabeth McMeikan to its board as an independent, non-executive director. Ms McMeikan is currently a senior independent director at UK pub giant JD Wetherspoon. Dalata, the Pat McCann headed group whose brands include the Clayton and Maldron hotels, is currently developing nine new hotels which will open over the next three years. Having spent her earlier career at Colgate-Palmolive, Ms McMeikan then took up a role with Tesco, where she established Tesco Express in 1994. In 1997, Ms McMeikan was appointed Tesco stores board director for change management and human resources. Today, she is also a senior independent director at UK-based student accommodation provider Unite Group. She also chairs the board’s remuneration committee. In addition, she is a non-executive director at food company Fresca Group.

UK funds firm Merian hires for Dublin office before Brexit
UK-based fund manager Merian Global Investors (MGI), formerly known as Old Mutual Global Investors, has secured four senior hires for its new Dublin office, which opens in two weeks’ time as the firm advances plans to prepare for Brexit.  It has hired Link Fund Solutions Ireland’s managing director, Paul Nunan, to become its country head for Ireland.  The new Irish unit has also hired KPMG Ireland associate director for financial services audit Geraldine Gleeson as the financial controller, while MGI’s current head of legal and compliance for its Asia-Pacific business, Irishman Shane O’Sullivan, is transferring to head up compliance and enterprise risk in Dublin.  Funds specialist Ross Allen, who was hired by Legal and General Investment Management (LGIM) last year as it built up its Dublin base ahead of Brexit, is set to join MGI as a senior investment risk manager.

BMW Ireland to appoint new managing director
Paulo Alves, managing director of BMW Ireland, is to move to the UK to become head of its motorcycle division. He is to be replaced by BMW UK’s retailer development director Kevin Davidson, a 24-year veteran with the company. His previous roles include general manager of used cars at BMW UK. He was also a non-executive director of BMW Park Lane. Mr Alves, a chartered engineer, took on the Irish role in 2014. Recently he has overseen a reorganisation of the Irish operation, with the departure of several members of staff.

Naomi Staff Takes Over as MD of Core Research
Core, Ireland’s largest marketing communications company, has announced the appointment of Naomi Staff as managing director of its research practice. Ms Staff has over 11 years’ experience in market research and joined Core in 2014 as research director.  Prior to this, she was associate director of Kantar, formerly Millward Brown.

TBWA\Dublin Strengthens Creative & Strategy Teams With New Hires
TBWA\Dublin has made a number of major senior appointments to its strategy and creative departments including that of Mandy Leontakianakis who joins the agency as chief strategy officer and Des Creedon who has been promoted to executive creative director. Mr Creedon joined TBWA\Dublin from Publicis Dublin in 2014 having previously worked at McConnell’s and DDFH&B.  In addition to these new hires both Yvonne Caplice and Aleesha Tully are being promoted with Ms Caplice taking on a business director role while Ms Tully takes a strategy director role as part of Ms Leontakianakis’ team.

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.

Quality Recycling Limited is a leading waste management and recycling company in the South East of Ireland. Based in Co. Tipperary, Quality Recycling offers domestic wheelie bin services as well as commercial waste management services in both South Tipperary as well as Co. Waterford. In Fy18, the company had a stable performance with revenue remaining relatively flat at c. €11.3m although EBITDA increased by 15.4% to c. €2.2m as gross margins increased from 30.2% to 33.6% and admin expenses decreased slightly. The company employed an average of 88 people in FY18, down from 99 the previous year. Cash increased by c. €625k after the company invested c. €1.2m in CAPEX (c. €514k in Plant and Machinery and c. €673k in new Motor Vehicles) while also making a c. €490k repayment of borrowings leaving a cash balance on the balance sheet of c. € 1.1m against a debt balance of c. €1.1m also. Net assets for the year stood at c. €4.2m, up from c. €3.0m the previous year.

Based in Cork, M & J Kelleher Limited is an oil delivery company that has been in operation since 1962. Over the past 50 years, the company has grown from one oil truck to a modern fleet of twenty-one tankers making deliveries throughout the Cork and Kerry region. In its most recent financial year, the company saw revenues rise by 20.1% to c. €44.2m while EBITDA increased significantly by 42.2% to c. €1.2m. The jump in EBITDA can be attributed to the increase in revenue and well managed admin expenses. The company employed an average of 39 employees in FY18 at a cost of c. €1.7m. Cash increased by c. €367k after significant working capital movements as well as a c. €64k purchase on tangible assets. The company also made a c. €9k payment towards finance lease liabilities leaving a positive net cash balance on the balance sheet of c. €1.3m and no debt. The company is 100% owned by Gerard Kelleher.

A.W. Ennis Limited, which trades as Erin Farm Feeds, is a manufacturer of coarse Krunch feeds, pellets and mash for ruminants, pigs, poultry and game birds. The business was first established by the Ennis family in 1836 in Ballyconnell in Co. Cavan but has since moved to Virginia in Co. Cavan. During FY18, turnover grew by 9.5% to c. €69.6m although EBITDA slipped 9.7% to c. €3.8m due to the increased cost of sales. The business spent c. €2.3m on fixed assets during the year with c. €1.2 relating to freehold property, c. €668k to plant and machinery and also c. €407k relating to motor vehicles. The company paid a dividend of c. €2.2m dividend during the year, down from c. €3.8m the previous year. It ended the period with a net cash decrease of c. €4.0m leaving cash in hand on the balance sheet at c. €404k while there was a bank overdraft facility of c. €5.6m. The company employed on average 55 people during FY18 at a cost of c. €2.7m. The company is wholly owned by the Ennis family.

RECENT FUNDRAISINGS

Who: Endeavour Technology, one of Ireland’s most progressive IoT/5G Companies having innovative IoT/5G Service Assurance products.

What: €2m funding was raised from the private sector. Focus Capital acted as advisers on the deal.

Why: The investment will enable the company to ramp up its operational capability to address the needs of large scale market opportunities in the North American IoT Market.

Source: Focus Capital

Who: Limerick-based broadband and wireless company Enet, founded in 2004 to roll out State-funded internet to the regions, has announced investment.

What: The company is investing €1m in new headquarters at the National Technological Park in Limerick.

Why: The funds will be used for expansion and relocating into the new state of the art HQ.

Source: Irish Independent

Who: Belfast tech firm Neurovalens, specialising in combining neuroscience and technology, has secured funding.

What: £750,000 (€866,100) is received from the Growth Finance Fund, which comes from a £30m (€34.64m) pot provided by the British Business Bank, Invest Northern Ireland and private investors, Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).

Why: The investment will be used to further develop their Sleep and Slim products internationally and to move the Slim headset into the retail sector, making it more accessible to consumers

Source: Belfast Telegraph

Who: Enterprise Ireland announces a Small Business Innovation Research fund (SBIR).

What: €750,000 SBIR fund is co-funded by Enterprise Ireland. Each SBIR Challenge will be worth a minimum of €200,000 in funding. The call is open until 4 December 2019. Up to five SBIR Challenges will be awarded and will be announced in early 2020.

Why: The SBIR Challenge is for state agencies, county councils and local authorities seeking solutions to a diverse range of public challenges and encourages the Irish public sector to partner with innovation-led businesses in exploring unique solutions.

Source: Irish Examiner

Who: Software provider Spearline, co-founded by Kevin Buckley, CEO and Matthew Lawlor, CTO, has announced investment.

What: The company is investing €2.9m in a new office in Waterford.

Why: The funding is planned for creating 24 new roles in the new global sales office based out of the Waterford Institute of Technology’s ArcLabs Research and Innovation Centre.

Source: Silicon Republic

Who: Invest NI has launched two new equity funds –
The TechStart II Seed Fund and Crescent Capital IV Development Fund.

What: £30m (€34.64m) TechStart II fund will be managed by Techstart Ventures and the £65m (€75.06m) Crescent Capital IV fund will be managed by Crescent Capital.

Why: The funds will be made available to high-growth potential SMEs that are planning to realise their growth ambitions, create jobs and bring new products to market.

Source: Belfast Telegraph

Who: Cybersecurity start-up Evervault, led by 19-year-old former BT Young Scientist winner Shane Curran, has raised seed funding.

What: $3.2m (€2.87m) funding has been led by Sequoia Capital, joined by Silicon Valley firm Kleiner Perkins, Dublin’s Frontline Ventures and US seed fund SV Angel.

Why: The funding will be used to fundamentally re-architect how personal data is handled by building simple developer tools for data privacy.

Source: Fora

Who: The Department of Education has announced funding under the Higher Education Landscape fund.

What: Almost €15m has been shared between TU Dublin, which received €3.8m, and four other consortiums, made up of groups of Institutes of Technology, who have received €2m each, as well as a portion that goes towards the promotion of cross-border third level projects.

Why: The funding is to help these third level institutions to develop and align courses, push on in the field of research and ultimately progress to technological university status.

Source: RTE

Who: Investment announced for Belfast’s Odyssey complex.

What: £17m (€19.63m) will be invested by Matagorda 2, an Isle of Man domiciled entity established in 2015

Why: The financing will be used for redeveloping the complex into the number one leisure destination for families in Northern Ireland to include a new cinema, bowling alley, a number of restaurants and leisure offerings.

Source: Belfast Telegraph

Who: Taoglas, a Wexford company that makes antennas for internet-of-things devices.

What: $25m (€22.4m) debt deal has been agreed with HSBC.

Why: The debt funding will be used to help fund ongoing expansion after Dublin tech business Firmwave was acquired in July for $6.5m.

Source: Sunday Times

Who: Bleeperbike, Ireland’s first stationless bike sharing scheme, began in 2016 when CEO Hugh Cooney saw the evolution of stationless bike sharing while holidaying in China.

What: The company raised €750k under the state’s employment and investment incentive scheme in July, bringing total investment in the bike-sharing scheme to more than €1.2m.

Why: The funds will be used to double the number of available bikes to 1,000 by the end of November.

Source: Sunday Times

Who: FoodMarble, a digital health start-up based in Dublin, focused on digestive health research has brought the world’s first personal digestive tracker to market.

What: The company has opened a €3m fundraising round.

Why: The funding will be used to create more than 30 new jobs next year to help the business grow.

Source: Sunday Business Post

Who: Intouch.com, a retail software development company, which was founded by former UCD professor Sameh Abdalla and Tim Arits in 2015 is looking for funding.

What: The company is seeking to raise €7m in a Series A funding round led by a venture capital firm from the United Arab Emirates.

Why: The funding will be used to help fund International growth and triple the size of Intouch’s team, which currently stands at 18 people.

Source: Irish Independent

Who: Mainstream Renewable Power, a leading pure-play renewable energy company with a global footprint, has doubled its trade finance facility.

What: The company has increased its trade finance facility by €110m which was led by Dutch bank ABN AMRO.

Why: The funding will be used to support bid bonds, performance bonds and equity commitments across the group. It expects the first use will be to support the construction of its wholly owned Andes Renovables portfolio in Chile.

Source: Irish Independent

Brexit movement in the Week

Instead of ‘Thought for the Week’, we are bringing you a weekly tracker using odds from oddschecker and taking off bookmakers margin to come up with deemed percentage probability of outcomes.

The current markets read as follows:

Some Sort of Brexit:
By December ’19 50% (39% last week)
H1 2020 25% (30% last week)
H2 2020/2021 11% (from 12%)
Not before 2022 14% (from 19% last week )
——————————————————————————————
No deal 11% (from 15%)

Furthermore, the odds suggest it is virtually certain that the next step is an extension beyond 31 October.

If you are not in agreement with any of above you can get the odds here and back your opinion: Oddschecker – Brexit

@RenatusCapital Tweets

66%
The year-on-year increase in the number of new electric/hybrid private cars licensed for 2018, amounting to 8,567, according to @CSOIreland

18.2% & 6.3%

The increase in the average price for petrol and diesel, respectively, between 2008-2018, peaking in 2012 at €1.63 per litre for petrol and €1.56 for diesel, according to @CSOIreland

2.9%

The unemployment rate in Northern Ireland for August 2019, below UK rate of 3.9% and the Republic of Ireland rate of 5.3% for July, according to the labour force survey from the Northern Ireland Statistics & Research Agency.

8.2% & 6.5%

The year-on-year increase in Irish GDP and GNP, respectively, for 2018, according to @CSOIreland

2.46% & 10.91%

The increase in Ireland’s total value of imports and exports respectively for YTD August 2019 versus the same period in 2018. While the trade surplus is currently €43.7bn, up 24.64%, according to @CSOIreland

7.35% & 4.78%

The increase in the value of imports and exports respectively between Ireland and Great Britain for Year-to-Date August 2019 versus the same period in 2018, according to @CSOIreland

73%

The increase in the number of seasonal and part time roles in Ireland over the past five years, according to jobs.ie @examinerbiz

2.3%

The monthly decrease in high street footfall in Northern Ireland according to the Northern Ireland Retail Consortium and Springboard. @BelTel

48.3

The Ulster Bank Construction PMI for September, down from 53.7 in August which signifies a reduction in activity in the Irish construction sector @IrishTimesBiz

€0.2b

The Irish government surplus for 2018, an improvement on the 2017 deficit of €0.9b, this is the first surplus since 2007, according to @CSOIreland

ABOUT RENATUS

Renatus was established in 2014 by Mark Flood and Brendan Traynor 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 of €5m and above. Our typical solutions include:
  • Succession Planning
  • Management Buyouts / Buy-Ins
  • Funding for organic growth
  • Acquisition Funding; and
  • Share Sales
Management Partners
Business Owners

OUR INVESTMENTS

LEARN MORE…

Renatus’ Knowledge Centre

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.

Visit the Knowledge Centre

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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.