BGF invests €6m in clean solutions firm ClearSphere

ClearSphere has worked across the pharmaceutical, medical device, healthcare, and industrial sectors

Liam Nagle, incoming non-executive chair of ClearSphere; Michael Buckley, Peter Marron, and Colm Buckley of ClearSphere, and BGF investor Joe Higgins.

Cork-headquartered cleanroom firm ClearSphere will receive over €6m in investment from capital investment group BGF. 

Based in Carrigaline, ClearSphere has provided cleanroom and containment solutions across the pharmaceutical, medical device, healthcare, and industrial sectors over the past 35 years, working with clients including Pfizer, Abbott, Hovione, and Tallaght University Hospital. Annual revenues have increased from €6m in 2020 to over €13m today.

BGF’s investment will enable ClearSphere to accelerate its growth strategy and expand into markets in Northern Ireland and Britain. 

“As ClearSphere looks to grow further, we are thrilled to have BGF on board as that growth partner. Their history of identifying scale-up opportunities, as well as business expertise, will prove to be invaluable as we embark on the next exciting phase at ClearSphere," said ClearSphere managing director Peter Marron.

BGF was founded in 2011 and has invested over €5.1bn in more than 600 companies, making it the most active investor in the UK and Ireland. BGF has offices in Cork and Dublin and is backed by the Ireland Strategic Investment Fund (ISIF), Bank of Ireland, and AIB, and has €250m available to invest in Irish SMEs. 

Under the partnership, BGF investor Joe Higgins will join the ClearSphere board as a director, while his colleague Aoife McAdam will join as a board observer.  “ClearSphere is well placed to capture increasing demand across its core markets. Our investment reflects our confidence in ClearSphere’s ability to continue this momentum and expand its delivery of best-in-class solutions," said Mr Higgins. 

ClearSphere has also announced the appointment of Liam Nagle as non-executive chair, with Mr Nagle introduced to the firm through BGF. Mr Nagle serves as chair of global veterinary pharmaceutical company Norbrook Laboratories and previously was chief executive and chairman of construction giant Sisk. He has also held roles at Intel, Nortel Networks, and Bookham Technology. 

The transaction will complete following receipt of regulatory approval from the Competition and Consumer Protection Commission.