BDO Corporate Finance were delighted to have advised the shareholders of Eastland Engineering Supply Company Ltd in securing investment from MML Growth Capital Partners Ireland. The investment, which is subject to approval from the Competition and Consumer Protection Commission, was also supported by AIB Corporate Banking.
EES are the largest independently owned service provider for supply chain and operations associated with MRO (Materials Repair & Overhaul) programs. They predominantly specialise in supporting manufacturing facilities in the food & beverage and pharmaceutical industries; however, their service models and processes can also translate to all manufacturing facilities. EES work with many of the leading players in Ireland’s food & beverage and pharmaceutical industries including Glanbia, Diageo and Pfizer. They reported turnover of €35 million for the y/e 31 May 2019.
MML Growth Capital Partners Ireland is a €125m fund dedicated to backing ambitious managers of Irish SMEs. It provides capital to businesses for expansions, acquisitions, shareholder reorganisations, recapitalisations and management buyouts. The investment from MML will provide EES with a platform to continue their Irish and International growth.
The BDO team advising EES was led by Katharine Byrne, Partner & Head of BDO Corporate Finance and supported by Eimear O'Hare, BDO Corporate Finance. Commenting on the deal, Katharine Byrne said: “We are delighted to have worked with the EES team in identifying the right funding partners to support the business in their growth plans. This deal shows how private equity can help unlock value and enable the continuing growth of ambitious Irish companies".