MML Growth Capital Partners IrelandMonday, 24 April 2017
ByrneWallace advised MML Growth Capital Partners Ireland, a private equity fund dedicated to backing managers of small and medium-sized private businesses located on the island of Ireland, on its investment in Fastway Couriers (Ireland), supporting management in providing an exit for the original shareholders. The transaction was also supported by bank financing provided by AIB Corporate Banking. The investment will help drive the continued growth of the Fastway network in Ireland, one of Ireland’s leading courier businesses, which handles over 15 million parcels a year and generates annual revenue of over €70 million. The Fastway Ireland network now facilitates the employment of over 550 people across the country.
MML backed Fastway Ireland’s existing management team, led by CEO Bobby O’Keeffe who is maintaining a significant stake in the business.
MML Growth Capital Partners Ireland is a €125 million investment fund supported by Enterprise Ireland, AIB and a number of international institutional investors.
The ByrneWallace team who advised on this transaction was led by Gerry Beausang, Corporate Partner and Richard Doyle, Senior Associate.