Dublin-based private equity fund Erisbeg has acquired a majority stake in Eolas Recruitment.
Based in Bray, olas focuses on IT recruitment and was founded in 1999.
The value of the transaction was not disclosed, but brings the total value of Erisbeg’s investments over the past four years to 60 million euros.
In addition to the acquisition by Erisbeg, Eolas has also appointed a new CEO to succeed founder and current CEO Vincent Ryan. Jim Ryan takes the top job and also invests in the business.
“My wife Mary and I founded Eolas Recruitment in 1999 with a vision to create Ireland’s leading specialist IT recruitment firm,” said Mr Ryan.
“We believe that Erisbeg is the right partner for Eolas Recruitment at the right time and I am pleased that the company is now in safe hands for the next phase of its growth and development.”
Erisbeg partner Thomas Davy added that Eolas has “wonderful employees, a highly talented roster of advisors and an unrivaled blue-chip client base.”
Erisbeg was founded in 2017 by Alan Kerry and Mr. Davy, formerly of Blackstone and DCC respectively.
Last month, AIB invested EUR 10 million in its flagship fund, Erisbeg, bringing the fund’s total value to EUR 110 million.
https://www.independent.ie/business/irish/growth-investor-erisbeg-acquires-it-recruiter-eolas-42187421.html The growth investor Erisbeg acquires the IT recruiter Eolas