Deal is 17th equity investment by Erisbeg in past six years.
Thursday, 6th July 2023. Erisbeg – one of Ireland’s leading Private Equity firms – has acquired a majority stake in EMR Integrated Solutions (EMR), a leading provider of integrated operational telecommunications and cyber security solutions for utilities and critical national infrastructure operators in Ireland and the UK. The transaction is subject to regulatory approval from the CCPC.
Erisbeg has also committed to providing finance to support further acquisitions by EMR. EMR CEO Mark Quinn and the company’s senior management team will remain with the company after the transaction completes.
Erisbeg is deploying a €110m private equity fund
Erisbeg was founded in 2017 by Alan Kerr and Thomas Davy who were senior executives with Blackstone and DCC respectively.
This deal is the latest of 17 equity transactions made by Erisbeg in the last six years from its flagship private equity fund, Erisbeg I LP. Erisbeg I LP is a fund of €110 million created to acquire key businesses that can become leaders in their sectors through acquisition and organic growth.
Investors supporting the Erisbeg fund include leading Irish and international institutional investors in private equity, including AIB plc. Erisbeg I LP invests in Irish SME’s with ambitious management teams that have a strategy to grow their business organically in Ireland and internationally.
Erisbeg portfolio businesses have combined annual sales of €175m, annual profits of €35m, and employ approximately 800 people.
Background on EMR:
EMR Integrated Solutions was established in 1981. Headquartered in Dunboyne, Co. Meath, the company is led by Mark Quinn and employs 60 people. EMR is a leading supplier of integrated operational telecommunications and cybersecurity solutions across the utility, critical national infrastructure and transportation sectors.
Clients of EMR include large Irish utilities such as ESB and Irish Water, UK utilities including National Grid, Severn Trent Water and Northern Powergrid, transportation infrastructure providers such as Irish Rail and Dublin Port and renewable energy producers such as Greencoat and Stern Energy.
EMR has expanded significantly in recent years. Annual revenue increased fourfold to over €18m between 2016 and 2022. For more information, please see www.emrsolutions.com
Commenting on the Transaction:
Thomas Davy, Erisbeg Partner and co-founder stated:
“Having first met Mark in 2018, we have been hugely impressed with the development of the business, initially in Ireland and more recently in the UK. We share Mark’s vision for the future and are excited by the opportunity to continue supporting the company’s growth over the next phase of its development.”
Mark Quinn, EMR’s CEO commented:
“Organic growth has taken us so far but our ambitious growth trajectory for the next five years requires external investment. I’m pleased that we’ve come to an agreement with Erisbeg as their investment portfolio and experience reflects a deep understanding of the markets we operate in.
“Their financial strength gives us the fire power to accelerate our business growth by extending our geographic reach in Europe, developing new services and adding to our in-house expertise in designing, building and supporting smart communication networks for critical national infrastructure.”
LK Shields (Legal), KPMG (Financial) and EY (Tax) advised Erisbeg on the transaction. EMR were advised by BDO and Sheehan & Co Solicitors.
Pic l-r above: Thomas Davy, Erisbeg Partner and Co-Founder, and Mark Quinn CEO of EMR Integrated Solutions