Cork manufacturer Irish Rollforming has secured a significant seven-figure investment from private equity company Renatus Capital Partners.
Renatus is backed by a collection of Irish business people and the Ireland Strategic Investment Fund. The minority investment in Irish Rollforming marks the fifth investment from its €40m Fund II.
The funding will be used to support the Irish Rollforming's growth plans. The company, which produces roofing and cladding products, was founded by Liam and Dolores O’Sullivan. It operates from a purpose-built 80,000 sq ft premises in Bweeng in North Cork.
The company was first established in 2010 as a cladding manufacturer and quickly expanded from boxed and corrugated sheeting to complementary products such as gutters, flashings and purlins. Liam O'Sullivan, who will continue to lead the company, said:
Mr O'Sullivan will be joined on the board by Renatus' Conor Mehigan. Ruairí Geoghegan was appointed Chief Operating Officer in 2020.
"This is a proud week for myself, my family and everyone involved in Irish Rollforming," Mr O'Sullivan added.
Conor Mehigan, associate director of Renatus, said Irish Rollforming’s management team has positioned the business as a market leader in its space.
"Working closely with ambitious founders is core to Renatus’ investment philosophy and we are looking forward to providing the financial and strategic support to help accelerate managements’ growth ambitions," he said.
Renatus has invested in a range of Irish and UK firms including Tipperary Crystal, Rennicks, and CRS cold storage. They also funded the management buyout of the Boojum burrito food chain by its current directors from the founding shareholders.
BKK (financial and tax) and RDJ (legals) advised Irish Rollforming with ReganWall (legals) and KPMG (tax) acting for Renatus.