ByrneWallace advise Ireland's Deal of the Year – Loans & Financing (SME Sector) for second consecutive yearFriday, 18 May 2018
Presented annually, the Finance Dublin Deals of the Year Awards recognise the best in class Irish corporate finance transactions and the leading deal makers and professional services firms that advised upon them. This year, over 150 deals were nominated with 34 deals awarded across five award categories – Mergers & Acquisitions; Debt Capital Markets; Equity Capital Markets; Loans & Financing, and Financial Services.
The MML / Fastway Couriers transaction involved a significant investment by MML into the Fastway business, supporting management in providing an exit for the original shareholders. MML is a private equity fund of €125 million, supported by Enterprise Ireland, AIB and a number of international institutional investors, which is dedicated to backing managers of small and medium-sized private businesses located on the island of Ireland. Fastway Couriers is one of Ireland’s leading courier businesses, which handles over 15 million parcels a year and generates annual revenue of over €70 million.
Commenting on the transaction, Gerry Beausang, ByrneWallace Corporate Partner said, "ByrneWallace has a long tradition advising some of Ireland’s leading institutional funders and private investors. We are delighted to have had this opportunity to work with MML Growth Capital Partners and help support this significant investment which will help drive the continued growth of the Fastway network in Ireland and, in particular, contribute to the continued growth of Irish SME market.”
Neil McGowan, Director and Co-head of Investments at MML Growth Capital Partners added, “we were delighted to work with Gerry and the team at ByrneWallace to successfully conclude this transaction. This was a complex deal involving several moving parts, and required legal expertise from various specialisms including corporate, banking, tax, employment and property. What impressed us most about ByrneWallace was how they were able to seamlessly pool their individual skills and expertise to deliver commercial advice in an integrated manner.”
Commenting on the 2018 Finance Dublin Awards, Finance Dublin said, “These Awards seek to recognise the work, diligence and innovation that advisers and arrangers are doing to make the capital markets in Ireland, both domestically and in terms of its export FS sector, such a continued and great success.”
“They reflect an exceptional year of development on many fronts in corporate finance and capital markets in Ireland during 2017. The Awards mark a further stage in the development of Ireland's economic recovery in the wake of the global financial crisis."
The ByrneWallace team who advised on this transaction included Gerry Beausang, Corporate Partner (Lead Partner), Lisa Cawley, Banking & Finance Partner and Richard Doyle, Senior Associate.
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