Waterland to invest €150m in Irish market over 18 months
At a time when the wider industry is reportedly pulling back on new investments and fundraises, the group's Irish arm signalled on Friday that it plans to 'dramatically' ramp up its expansion plans in the Republic.
Waterland Ireland, which said it now has combined revenues of €600 million across its Irish portfolio, will invest an additional €150 million in new platform companies as well as add-on acquisitions for existing portfolio companies.
The €150 million is understood to come from existing funds that have already been raised.
READ MORE
Waterland Ireland has invested in five so-called platform companies here since 2019, including Meath-based data centre cable specialist MTM Engineering, NetZero Group – formed through the Waterland-backed merger of two green heating and plumbing companies in 2023 – and the Silver Stream Healthcare nursing home group.
The group, which focuses largely on mid-sized companies, has then added smaller, complementary businesses to those platforms through acquisition.
Most recently, the competition watchdog cleared Waterland's bid to buy
Hometherm Insulation Ltd
in Kells, Co Meath, in March. If the deal goes ahead, it would position Waterland to benefit from accelerated State spending to retrofit 500,000 homes with insulation, heat pumps and other equipment by 2030 to hit climate action targets.
'We see immense potential in the Irish market and are dedicated to supporting companies with strong growth ambitions,' said
Laura Dillon, partner at Waterland Ireland
.
'This commitment reinforces our belief in the strength and innovation of Irish businesses. We are excited to partner with entrepreneurs and management teams to help them scale and achieve their international growth aspirations.'
The announcement comes against a backdrop of slower deal-making and fundraising across the private equity industry.
The Financial Times reported in April that
US president Donald Trump's
tariffs
are forcing private equity groups to pause their deal-making and focus on managing their existing portfolio companies, in a stark reversal of earlier expectations for a boom in activity under the new administration.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
17 minutes ago
- Irish Times
Profits rise at Cashel Blue producer with aims to fund further capital investment
Profits rose at Cashel Farmhouse Cheesemakers, the producer of the famous Cashel Blue cheese, with the company aiming to use the surplus to fund further capital investment. J & L Grubb Limited, the company behind the brand, recorded profit of more than €960,000 in the 2024 financial year, according to filings made to the Companies Registration Office. This followed a profit of €951,000 in 2023. A spokesman said the company was 'building reserves to allow continued investment' after it made a 'huge capital investment' in 2010. The Cashel Blue brand was created by Louis and Jane Grubb in 1984 and has continued to be made by hand on the same farmland since it was founded. It is based in Fethard, Co Tipperary. READ MORE The brand is now led by a new generation of the family: the founders' daughter and her husband, Sarah Furno and Sergio Furno. Speaking to The Irish Times, the spokesman said that 2023 was a 'particularly good year' with the company having benefited from a 'post-Covid bounce', which he said benefited the food sector generally. In 2024, however, a sharp increase in milk prices forced the company to 'change its pricing slightly' as farmers were hit by a wetter than expected start to the year, which disrupted dairy volumes and price. 'Every cost has gone up. You name it and everything has gone up,' the spokesman said, with the family business seeking to retain a 'simple philosophy' of trying to build the company sustainably in order to be able to 'make the next step.' 'We are a sustainable, family-based rural business trying to hire people from the locality. We use locally produced milk, and hire our labour locally as much as possible.' The majority of the business' sales are domestic, around 70 per cent, with the balance exported to other markets. While tariffs may impact the company's exports to the US, they only have a small portion of their exports exposed to that market. The market turmoil, however, has created 'opportunities' for the company as there is interest from new markets in their product as people are 'now shy of buying American', the spokesman said. Accumulated profits stood at €9.2 million, with more than €500,000 in finished goods in stock by the end of 2024. The company had 22 employees in 2024, down seven from the year prior.
Irish Times
an hour ago
- Irish Times
TD Gary Gannon files legal proceedings against Central Bank over Israeli bonds
Social Democrat TD Gary Gannon has filed legal proceedings against the Central Bank over its role in facilitating the sale of Israeli bonds on the European market. McGarr Solicitors lodged papers with the High Court on behalf of the Dublin Central TD on Thursday. Mr Gannon is seeking a court order requiring the Central Bank to exercise its powers under European regulations to prohibit the marketing, distribution or sale of bonds issued by the state of Israel. Court papers show he is also seeking an order requiring the bank to 'properly consult' with the 'competent authorities in other member states that may be significantly affected by the action'. READ MORE In a draft affidavit to the court Mr Gannon said he believes and is advised that the investors in, and holders, purchasers and sellers of Israeli bonds risk being 'complicit in genocide, with various implications for them'. [ Israeli bond investors risk complicity in genocide, TD claims in letter to Central Bank governor Opens in new window ] There have been ongoing calls for the Central Bank to end its role in approving Israeli bonds for sale in the European Union. The bank is the designated authority in relation to the sale of Israeli bonds in the EU. The Central Bank's governor, Gabriel Makhlouf, told the Oireachtas Finance Committee last month that Israel has raised between €100 million and €130 million from the bonds. He said the Israeli government website marketing its 'war bonds' had stated it had sold bonds worth €5 billion. He said the EU accounted for only a fraction of that, with the US accounting for the bulk of it. On what the bank can and can't do, he said: 'The Central Bank cannot decide to impose sanctions for breaches or alleged breaches of international law. It is for international bodies such as the UN or the EU to determine how to respond to breaches or alleged breaches of international law.' Mr Gannon issued letters to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza at the end of last month. In response, the Central Bank, through its solicitors, said in a letter that there is 'no valid legal basis' to support Mr Gannon's purported judicial review proceedings. It claimed that Mr Gannon lacked the 'necessary locus standi' or right to bring the proceedings, and said the bank was satisfied it did not meet the relevant criteria to exercise its powers under EU law. The letter also stated that judicial review proceedings would lead to court time being 'expended unnecessarily and substantial costs being incurred'. [ Central Bank's role in approving Israeli bonds can be traced back to Brexit Opens in new window ] Commenting on the action, Mr Gannon said: 'These bonds are not neutral financial instruments. They are a funding pipeline for a military campaign that includes the bombardment and starvation of thousands of civilians. 'While this is a technical case grounded in EU investor protection law, the issues at stake are deeply moral and ask whether our laws, Irish, European, and international, have the capacity to respond to that reality.' He added: 'If financing a regime accused of genocide doesn't meet that threshold, what does?'
Irish Times
an hour ago
- Irish Times
Smyth's pub in Dublin 4 set to be demolished and replaced by apartments and a new bar
An Coimisiún Pleanála (ACP) has given the green light for plans to demolish a Smyth's pub on Haddington Road and replace it with a bar and apartments despite locals' fears of a 'superpub' being developed. The appeals board has granted planning permission despite concerns expressed by the Pembroke Road Association and by R John McBratney and others in their appeals lodged against the decision to grant by Dublin City Council to Courtney Lounge Bars Ltd. This entity now has permission to demolish all existing buildings on site at 10 Haddington Road and construct a four-storey and part five-storey mixed-use building comprising a pub at basement level and ground floor, and six residential units on the upper floors. In the case, ACP has granted permission for the scheme due to its proximity to a wide range of community services and social facilities, the existing pattern and character of development in the vicinity, and the design, scale and layout of the proposed development. READ MORE [ Dublin 4 residents bring renewed objections to Smyth's pub renovation Opens in new window ] The board stated that subject to conditions, the proposed development 'would constitute an acceptable quantum of development in this accessible urban location, and would not seriously injure the residential or visual amenities of the area or detract from its character or built heritage'. The board has ordered that the pub's outdoor seating area shut at 10pm each night as part of the conditions attached. The board granted permission after its inspector in the case, Ian Boyle, concluded that 'the design approach adopted by the applicant demonstrates sufficient privacy and residential amenity will continue to be afforded to adjoining and nearby properties'. As part of his 44-page report, Mr Boyle concluded that 'the proposed higher density mixed-use development would make a positive contribution towards the evolving urban character of this urban area'. Mr Boyle stated that 'the new customer area would be marginally smaller than the corresponding area for the existing licensed premises- 140 sqm existing vs 134 sqm proposed. He said the modern fit out of the new pub would be required to provide enhanced sound insulation consistent with present-day building regulations. 'This would lead to a reduction in noise levels generated during busy periods by blocking or absorbing sound waves. This would benefit existing nearby homes and residents, but also the future occupants of the above apartments,' he said. In response to the plans initially lodged, the Pembroke Rd Association told the council that 'a local pub can be a wonderful social amenity in a mixed residential area, as Smyth's has been over the years, but a 'super' pub in the same type of area is a problem'.
