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Renatus’ Weekly M&A Newsletter – 21/08/2022
August 21, 2022
Renatus’ Weekly M&A Newsletter – 04/09/2022
September 4, 2022
August 29, 2022

Beauparc acquires Tyrone Energy, Wattics Limited is acquired by EnergyCAP, ETU receives strategic growth investment and more in our latest Renatus M&A newsletter.

Renatus Private Equity Dublin, Ireland

Renatus Weekly M&A & Company Performance Private Equity Newsletter 28/08/2022

Dear Reader,

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

THOUGHT OF THE WEEK

The cost and availability of energy is a topic on the minds of most.

Natural gas plays a critical role in Ireland’s energy mix and economy, providing about 50% of Ireland’s electricity. Ireland currently has two main sources of gas supply – Corrib and imports from the UK via two gas interconnector pipelines. Corrib supplies around 27% of Ireland’s annual demand with 73% imported from the UK, according to Gas Networks Ireland.

Gas production from Corrib is forecast to decline over the next decade, accounting for less than 20% of demand by 2025 with supply ceasing around 2030, leaving us totally dependent on imports. The restrictions on exploration and drilling off the West of Ireland means there is no further capacity coming online to replace it.

While there were valid reasons to object to production at Corrib at the time and there was a big furore over it (environmental, planning, and others.), we are ultimately lucky that it went ahead otherwise we would be in an even more precarious position now heading into a winter of escalating energy bills while the war goes on.

M&A ACTIVITY

Beauparc acquires Tyrone Energy

Deal Details: Beauparc has acquired Tyrone Energy. Deal consideration has not been disclosed.

Beauparc is an Irish waste management company that offers waste management, renewable energy supply, recycling services, logistics, green fuels and energy recovery. It was founded in 1990 by Eamon Waters and is headquartered in Dublin. Beauparc owns brands such as Greenstar and Panda and was acquired by Macquarie Asset Management in June 2021, when it was reported to be valued at close to €1bn. Since then it has made 6 acquisitions including Acumen Waste Services, B&M Waste, Exomex, Kollect and JWS, bringing the total number of facilities operated by Beauparc across Ireland, the UK and the Netherlands to 54. In FY20, the business reported a turnover of c. €528.6m, which converted to an EBITDA of c. €78.6m.

Tyrone Energy is a biomass power station operator near Strabane in Tyrone. It converts timber, that would otherwise be sent to landfill, into a clean source of energy. The plant began full commercial operations in 2012. It is a subsidiary of Tyrone Electric. It does not publish turnover or EBITDA information.

Advisers: None mentioned.

Renatus Comment: It is interesting to see companies such as Beauparc turn from what would have historically be seen as a “messy” business to now a clean recycling and agent for change given the role they have in reducing carbon emissions and delivering a more sustainable future for us all. The Tyrone Energy plant alone will reportedly save c. 7k tonnes of carbon dioxide emissions per annum, the equivalent of c. 5k vehicles.
Source: Beauparc Press Release 

Wattics Limited acquired by EnergyCAP

Deal Details: Wattics Limited has been acquired by EnergyCAP. Deal Details have not been disclosed.

Wattics Limited is a provider of  energy analytics that allows its customers to save energy and costs. Antonia Ruzzelli and Anthony Schoofs founded the business in 2011. It is headquartered in Dublin and has support offices in New York, Treviso and Berlin. It does not publish turnover or EBITDA information.

EnergyCAP is an energy data analytics platform that streamlines utility bill accounting, energy management and sustainability reporting. The business is backed by Resurgens Technology Partners, a private equity firm. It is headquartered in Pennsylvania and was founded in 1982 by Steve Heinz. Thomas Patterson has led the business as CEO since Heinz stepped back at the end of last year. In FY20, the business had a reported turnover of c. €10.2m.

Advisers:
EnergyCAP:
None mentioned

Wattics:
Legal: Kearney Solicitors led by Colm Kearney and including Joanne Howell

Renatus Comment: This is one of two sustainability-focused deals in this week’s newsletter which is a testament to its growing role in business and our daily lives.

Businesses are under increasing scrutiny from all stakeholders to report on and monitor their ESG. This is particularly the case for the “E” of ESG which is the most quantitative of the three. This trend should bode well for companies such as EnergyCAP and Wattics which can provide clear and reportable information to business decision-makers.

Source: EnergyCAP Press Release

Think People Consulting acquired by AAB Group

Deal Details: Think People Consulting has been acquired by AAB Group. Deal consideration has not been disclosed.

Think People is a HR consultancy service that provides people and organisation development services. The company provides services to both the public and private sectors. It was founded in 2006 by Anne Dougan and Emer Hinphey and is headquartered in Belfast with a second office in Dublin. The business does not report turnover or EBITDA.

AAB is a services organisation that provides audit and accounting, tax, payroll and HR, outsourcing, and advising solutions. It is headquartered in Aberdeen, Scotland but also has offices in England and Ireland. It was founded in 1990 and has been led by Graeme Allan since 2020. This is AAB’s second transaction in Ireland having merged with FPM accountants earlier this year. FPM was led by Feargal McCormack at the time of merger and he remains managing partner there. In FY21, AAB had a reported turnover of c. £16.7m, which converted to an EBITDA of c. £3.6m.

Advisers:
AAB:
None mentioned

Think People Consulting:
Corporate Finance: HNH Capital led by Craig Holmes and including Oliver Matthews and Richard Moorehead.

Renatus Comment:
The pandemic brought with it new ways of working such as working from home and condensed working weeks which have altered the scope of HR requirements in most businesses.

A recent survey, conducted by the National Transport Authority (NTA) and Trinity College Dublin, indicated that 33% of firms have plans to hire fully remote roles and 78% of people have a preference in some capacity to work from home. This switch in mindset by both employers and employees may drive increased need for HR specialists such as AAB and Think People.

Source: AAB Press Release

ETU receives strategic growth investment

Deal Details: ETU has received strategic growth investment from a number of investors. RTE reported that the value of the deal was in the region of c. €50m and that ownership of the business will change hands.

ETU is an immersive learning technology that helps upskill workers. Clients include PwC, IBM, Merck, Deloitte, Microsoft, and Macy’s. ETU is a spinout of Trinity College, co-founded by Dr. Declan Dagger, the current COO. Michael Veale joined ETU as CEO in November 2020 and he has steered the company through a period of rapid growth. The business does not publish turnover or EBITDA, however, it is reported that the business doubled annual revenue in 2021 and is on track to double revenue again this year. ETU’s workforce has increased 4x in 2.5 years. Prior to the investment, ETU was owned by a number of individuals and had been invested in by Leaf Investments. Leaf is an early-stage investor in learning technology businesses, and is backed by Folens Publishers.

Mission Springs Ventures, an investment vehicle led by executive Katie Laidlaw, assembled the investor group and financing. Katie Laidlaw will take over as CEO with Michael Veale exiting the business, while co-founder Declan Dagger will hold his position as COO.

Advisers:
ETU:
Corporate Finance: Goodbody including Hugh O’Driscoll, Rory Kavanagh, Matthew Keane and team.
Legal: Mason Hayes Curran including Martin Kelleher, Conall Geraghty, John Daly and team.

Mission Springs Ventures:
None mentioned.

Renatus Comment: This is another great example of a domestic univeristy spinout. There are numerous incubation centres within Irish universities and institutes of technology such as Nova UCD, Trinity Technology and Enterprise Camus, QUBIS, among others.

ETU was established in Trinity in 2010 and follows in the footsteps of Inflazome, which was acquired for c. €380m in 2020 and SoapBox Labs, which Wired named one of ‘Europe’s hottest start-ups’ in 2019, to name just two.

Source: ETU Press Release, RTE

Mike Murphy Insurance acquired by PIB Group

Deal Details: Mike Murphy Insurance has been acquired by PIB Group for an undisclosed sum.

Mike Murphy Insurance is a general insurance broker focusing on commercial, personal and life products. The business was founded by Mike Murphy in 2013 and is headquartered in Dublin. In FY21, the business reported a turnover of c. €1.9m, which converted to an EBITDA of c. €0.3m.

PIB Group Limited is a group of insurance advisory businesses providing advisory, analytics, claims management, premium funding, and risk management solutions. The business was founded in 2015 by Brendan McManus and is backed by private equity firms Apax Funds and The Carlyle Group. It is headquartered in London. In FY21 it recorded a turnover of c. £230.9m, which converted to an EBITDA of c. £44.5m.

Advisers:
PIB Group:
Legal: DLA Piper led by Matt Cole & Blayre McBride.

Mike Murphy Insurance:
None mentioned

Renatus Comment: It seems like we are commenting on at least one insurance deal every week.

PIB Group is a relatively new entrant to the list of companies working to consolidate the market having only completed its first Irish acquisition last year. However, it is catching up quickly with Mike Murphy marking its seventh acquisition made in Ireland so far and the fourth this year. PIB’s other acquisitions this year include Sullivan Insurances, Fingal Insurance Group, and Alan Tierney & Partners.

Source: PIB Press Release

Aedifica acquires four nursing homes from Bartra Healthcare

Deal Details: Four Bartra-owned nursing homes have been acquired by Aedifica in a deal worth c. €161.0m.

Bartra Healthcare is a Dublin-based group of nursing homes and traditional care units, it is part of the Bartra group that invests in property across all sectors. Bartra was founded by Richard Barrett in 2015 and is now led by Mike Flannery as CEO. Bartra Healthcare does not publish turnover or EBITDA information.

Aedifica is a Belgian-listed company that specialises in investments in European healthcare real estate. In particular, housing for seniors with care needs. The business has 599 properties with over 44,300 users. The business was founded in 2005 and is led by Stefaan Gielens. Consolidation has been a trend in the nursing home sector for a number of years now and Aedifica has proven very active in the Irish market, having already made 9 acquisitions in the Irish market since the beginning of the year. It has also announced investment plans for three care properties. Despite this strong presence in Ireland, the fair value of Irish properties only accounts for c. 2% of Aedifica’s portfolio. In FY21, it had net assets of c. €2.8bn.

Advisers: None mentioned

Renatus Comment: Over 765k persons in Ireland are over 65, according to estimations given by the CSO in April 2022, which are based on the preliminary census findings. This represents a 22.1% increase over 2016, illustrating the growing population’s ageing trend. A similar growth rate of 19.1% was recorded between 2011 and 2016. This will compound the existing capacity issue in the space, with CBRE reporting that Ireland needs to build 1,600 beds per year until 2030 to meet demand, with only 1,000 of these beds forecast to be delivered in total between 2021 and 2024.

Source: Aedifica Press Release

Galetech acquires Precision Gear Company

Deal Details: Cavan-based Galetech has acquired Precision Gear Company for consideration reported to be £1m (€1.2m).

Galetech Group is a renewable energy company that is involved in project development, management, and related services in the renewable and sustainable housing sectors. The business employs over 130 people. According to the business, group turnover is in excess of €17m.

Precision Gear Company is a Northern Ireland-based heavy engineering business. Gaeltech has acquired the business from Macrete, a precast concrete manufacturer-based in Antrim. Precision Gear Company specialises in the maintenance and refurbishment of heavy-duty gearboxes typically found in wind turbines, shipping vessels.

Advisers: None mentioned

Renatus Comment: Galetech is establishing a strong presence in the maintenance and supply niche servicing the growing wind farm sector in Ireland. Last year, Galetech acquired Optinenergy, a wind turbine maintenance provider which focuses on older generation wind farms.

Interestingly, there are no facilities in Ireland to repair new wind turbines being installed today which are significantly bigger than ones from 10+ years ago with turbines having to be shipped abroad to be repaired. Galetch is looking to fix this issue through expansion of its operations in the space, with sights set on building a new facility for this purpose.

Source: Business Post

TTM Healthcare Solutions acquires two companies

Deal Details: Ennis-based TTM Healthcare Solutions has acquired both Rota and MMA Healthcare Resourcing. Deal details were not disclosed.

TTM Healthcare Solutions is a healthcare recruitment firm. Founded in 2002, TTM works with some of the largest healthcare providers in the public, private and voluntary sectors. TTM oversees 3,000 people working in temporary roles across Ireland, Northern Ireland and the UK. It works with the HSE, NHS and the NSC in Northern Ireland. In its most recent financial year to December 2020, the business reported a turnover of €81.8m which converted to an EBITDA of c. €5.1m. The business is led by its CEO Paula McDonnell and had previously received significant investment from Broadlake.

UK-based MMA recruitment specialises in placing nurses across the UK including Northern Ireland. Rota is a people management system for the healthcare industry.

The rationale for the acquisitions was to expand the breadth of solutions offered, which range from talent and workforce management, international workforce solutions, healthcare process outsourcing to now workforce management technology.

Advisers: None mentioned

Renatus Comment: The acquisition of Rota is an interesting strategic move by TTM Solutions into technology supported workforce management. When the HSE set out its People Strategy 2019-2024, it noted the need to focus on evidence-based workforce planning and HR’s contribution to creating a digital culture and workforce. The implementation of technology in HR practices is clearly a focus for the HSE.

By leveraging technology themselves for workforce management, in line with the HSE’s own aims, TTM is positioing itself well to continue to be a valued partner for the HSE and others.

Source: Business Post

Zeus acquires Zwings

Deal Details: Carlow-based micromobility company Zeus has acquired Zwings. The consideration was not disclosed but is reported to be a cash-plus-equity deal.

Founded in 2019 by Damian Young, Zeus launched its first e-scooter rental services in Germany in 2020. Since then, the Irish start-up has expanded into six countries across two continents and more than 40 locations. The start-up currently has a 5,000-strong fleet of three-wheeled e-scooters. Early this year, Zeus raised a reported €5m of debt and equity funding from BVP Investments, Enterprise Ireland, and angel investors.

Zwings is a UK-based micromobilty operator. It is a provider of e-scooter and e-bike rental schemes. Its operations are focused on the Southwest of the UK with stations in Gloucester, Cheltenham, and Yeovil. Neither Zeus nor Zwings reports revenue or EBITDA information.

Advisers: None mentioned

Renatus Comment: Micromobility has been a hot topic for a while now. While traditional rental bikes have been a familiar sight for some time, e-scooters e-bikes are relatively newer and becoming increasingly prevalent.

There have been other Irish start-ups such as Zipp Mobility (which raised €6.1m in June of this year), among others, which has tried to capture share here. More recently, international players such as Lime and Bolt have been eyeing the market.

It will be interesting to see how this market shakes out over the coming years, whether all existing competitors will remain and manage to claim market share or whether one will take a dominant position.

Source: Business Post

COMPANY PERFORMANCE

Galway Plant & Tool Hire (GPT), founded in 1969, provides a wide variety of plant, equipment, and vehicles for long and short-term rental to a wide range of clients in the public and private sector. The business is headquartered in Galway and is owned by the Hughes family.

In its financial year to September 2021, Galway Plant & Tool Hire reported a turnover of c. €18.0m, an 11.7% increase year-on-year. This converted to an EBITDA of c. €9.7m, a 10.9% increase year-on-year. As would be expected in plant hire businesses, there was a significant depreciation charge of c. €7.0m in the year.

The business finished the year with a closing cash balance of c. €13.4m. The business employed an average of 79 staff during the year, at a cost of c. €3.7m.

Michael Lyng Motors Limited is a car dealship offering new and used cars, as well as services and repairs. It is headquartered in Kilkenny and has dealerships in both Kilkenny and Carlow. The business is jointly owned by Micheal and Mary Lyng and was founded in 1996.

There was a significant year-on-year increase in turnover with FY21 turnover reaching c. €36.8m, a 17.9% increase on the year. EBITDA was effectively flat compared to last year at c. €1.4m. This was largely driven gross margin moving from 8.7% in FY20 to 7.8% this year.

The business closed the year with a cash balance of c. €3.6m. Some significant post-EBITDA movements included payments to acquire tangible assets (c. €0.8m) and advances to subsidies/group companies (c. €0.9m). The business employed an average of 56 employees at a cost of c. €2.2m during FY21.

RECENT FUNDRAISINGS

Who: Irish-headquartered W4 Games Limited, which was founded by the creators of the Godot game engine. W4 Games is a new venture that’s setting out to take Godot to the next level. Godot is a cross-platform game engine first released under an open source licence back in 2014. Today, Godot claims some 1,500 contributors, and is considered one of the world’s top open source projects by various metrics. Tesla has apparently used Godot to power some of the more graphically intensive animations in its mobile app.

What: The company has raised c. €8.5m in a seed round from Lux Capital Management, Oss Capital and Sisu Game Ventures.

Why: The capital will reportedly be used to grow Godot and make it accessible for a wider array of commercial use cases

Source: Capital IQ, Techcrunch

Who: Net Feasa, an Irish company with offices in Dingle and Silicon Valley. It markets connectivity solutions which are embedded in global communications networks and supply chains.

What: The business has reportedly raised capital from Greg Turley, formerly of CarTrawler, and Tom Hickey of Kenmare Resources.

Why: Net Feasa reportedly has ambition to place its sensors on every shipping container in the world which will speak to central locations and improve the efficiency of supply chains.

Source: The Sunday Times

Who: Phrassa Pharmaceutical, an end-to-end pharmaceutical sales distribution business focusing on respiratory, gastro and ophthalmology.

What: The business has reportedly raised an undisclosed sum from Garry Moore, formerly of Steripack.

Why: Phrassa is reportedly developing a number of healthcare products including a vitamin D and lutein supplement as it targets the eye care, gastroenterology and respiratory sectors of the market.

Source: The Sunday Times

Who: Clontarf-based ChannelSight which has an eCommerce platform with aims to deliver insights to eCommerce brands, retailers and agencies.

What: The business has reportedly secured $7 million in debt financing ahead of a plan to raise $20 million from investors next year.

Why: The funding will not be drawn down immediately but be available to support its growth ambitions over time and for any opportunities which arise.

Source: Business Post

Who: Demoleap, an Irish co-founded company which is based in Tel Aviv. It has developed a real-time solution that uses artificial intelligence to produce a live demo experience to reinforce training lessons for sales teams.

What: The business has reportedly raised $4.4m from investors.

Why: The funds will reportedly be put towards expanding its team.

Source: Business Post

Who: Protex AI, a Limerick-based start-up which has developed software that plugs into business’ existing CCTV cameras and leverages AI to monitor and report unsafe working practices.

What: The business has reportedly received $18m from a range of investors. ​​​​​​

Why: The funds will reportedly be used to fund expansion with a target to hire c. 30 people next year.

Source: The Currency

EXECUTIVE AND BOARD APPOINTMENTS

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.


Francesca McDonagh

Source:
(Google Images & LinkedIn)


Rudolf O’Kane

Source:
(Google Images & LinkedIn)


Tom Hickey

Source:
(Google Images & LinkedIn)


Gordon Wilson

Source:
(Google Images & LinkedIn)


DJ Corbett

Source:
(Google Images & LinkedIn)

@RenatusCapital Tweets

€0.99:$1.00

The euro fell to a new two-decade low on Tuesday when it fell just below parity with the US dollar. This is the lowest level since late 2002. According to @Independent_ie

9.6%

The year-on-year rise in Irish consumer prices as of July 2022. This is a 2.4% increase from June and is the largest monthly increase since 2015. Irish dairy and fish products are large contributors to the increase. According to @CSOIreland

88,800

The increase in the Irish population in the year to April 2022. The population now stands at c. 5.1m, the highest figure since the 1840s. This has been driven by both net migration and a natural increase through excess births over deaths. @CSOIreland

27%

The increase in used car prices in the first half of 2022, in comparison to the same period last year, according to Lookers. This is largely due to the global semiconductor shortage. Revenue from new cars also dropped 5.6%. @LookersGroup

28.4%

The population of Dublin as a percentage of the entire country’s population. Dublin’s population is estimated to be c. 1.45m according to estimates made by the CSO. @CSOIreland

14.1%

The increase in the national average for residential property prices (houses and apartments) in the year to June 2022. This compares with increases of 6.8% in the twelve months to June 2021 and 14.4% in the year to May 2022. @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
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  • Management buy-ins
  • Growth financing – both organic and acquisition growth financing
  • Full and partial share sale.
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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.
    Patrick Dooley Renatus

    Patrick Dooley, Associate Director

    • Patrick joined Renatus in November 2022 as an Associate Director. Patrick has responsibility for screening, assessment and structuring of new investments and acquisitions.
    • Patrick previously held leading positions in Focus Capital Partners, PKF O’​Connor, Leddy & Holmes & EY.
    • Patrick is a charted accountant and holds a Bachelor of Accounting and Finance degree from DCU, along with a Masters degree in Accounting from TUD.

    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.