EIDA Solutions is delighted to announce that it has secured a multi-million-euro investment from Renatus Capital Partners. Co-Founders Dan McAlister (CEO) and Ramy Michael (CTO), will remain as very significant shareholders and will continue to lead the company as it embarks on the next stage of its growth journey. There will be no changes to operations and it will be business as usual although the investment will look to grow the team of 47 people to 70 over the next two years to support international growth and product development.
This is Renatus’ eleventh investment, and its second from its current €60m fund, which is backed by the Ireland Strategic Investment Fund (“ISIF”) and AIB. This fund is focused on providing supportive equity capital to ambitious SMEs across the UK and Ireland.
Dan McAlister, CEO and co-founder of EIDA said:
This investment marks a pivotal moment in EIDA’s journey. Renatus, with their formidable presence in the private equity landscape across Ireland and the UK, brings more than just capital to the table. Their backing empowers us to pursue our ambitious growth strategy throughout Europe, North America and Asia with confidence. This investment will not only enable us to better meet the evolving needs of our existing clients but also position us to attract and serve new clients on a larger scale. We’re thrilled to embark on this journey and collaborate closely with the Renatus team”
Conor Mehigan of Renatus said:
“EIDA Solutions has positioned itself as a market leader in its space by being ambitious, customer-focused, and uncompromising on product and service quality. We have been hugely impressed with the growth of the business to date under the management team’s leadership and are excited by their plans for the Group. Renatus is delighted to partner with Dan and Ramy and provide the financial and strategic support to help accelerate the growth ambitions.”
You can view the Renatus website here: https://renatus.ie/
We would like to thank all the advisors on both sides who did stellar work in securing the deal.
Advisors
Renatus:
Renatus Deal Team: Conor Mehigan, Conor Hall and Brian Quinn
Legal: LK Shields led by Emmet Scully, Lisa McEllin and Megan Fennelly
Tax: KPMG led by Kevin Corcoran and Marie O’Keeffe
Technical: Seapink Consulting
Financial: EY led by Ronan Murray, Marcus Purcell, Sean O’Brien, Syed Shah and Peter Walsh
EIDA Solutions:
Corporate Finance: Galeaos Consulting & Advisory led by Gavin McGuire
Legal: Flynn O’Driscoll led by David Ryan, Alison Kenny and Sean Roche
Financial: FinOps led by Stephen Becks
Tax: Circulo led by Amanda-Jayne Comyn
Transactional Support: FinCas Ltd
Company Accountants: KSi Faulkner Orr