Waterland Private Equity says it has €100m and potentially more in equity to buy and fund the Irish operation for 18 months over the next year.
The managing director of the European investment group in Ireland, Laura Dillon, said the available capital will support a mix of new investments and bolt-on acquisitions for portfolio companies.
The environment of higher interest rates is not a barrier to capital for the right companies, she said, but it will create a tougher environment that will test companies but won’t necessarily be negative for everyone.
“There’s a lot of turbulence, but this is a good time to take calculated risks,” she said.
Waterland’s primary focus in Ireland is acquiring majority stakes in Irish companies with the established management, where it sees strong scope to grow its operations through internationalisation, including acquisitions, supported by new investments and by leveraging the international network and the business prowess of the private equity firm – a strategy called “buy-and-build.”
Waterland’s latest acquisition here last month was a deal for a majority stake in Meath-based data center services company MTM Engineering, said to be valued at around €30m. That deal is expected to close on Thursday after the competition release, Ms Dillon said.
Waterland’s other businesses here include Silver Stream Healthcare Group, which was bought in 2019 and is now one of the country’s largest care homes which has recently undergone significant expansion including newly developed care homes in Dundalk, Co Louth, Duleek, Co Meath and Riverstick in Cork.
Waterland’s other investments include the purchase of family-owned Writech, a 40-year-old supplier of fire protection systems to blue-chip companies from Mullingar, which was bought last year and has since been through the acquisitions of Ce Sprinkler, a Swedish fire protection company, and Compco Fire Systems was extended, a British supplier of automatic fire suppression systems.
Waterland’s other Irish businesses include Textile Recycling International and Cawood Scientific, which provides analytical testing and sampling services in Ireland through its Sci-Tech subsidiary.
https://www.independent.ie/business/irish/waterland-targets-100m-of-further-investment-as-mtm-engineering-deal-set-to-close-41902036.html Waterland is targeting further investments of 100 million euros as the MTM engineering deal nears completion