Six executive directors in buyout of biopharma and medical device specialist contracting firm Ardmac
11 August 2015
Irish specialist contracting company Ardmac has been acquired by six of its executive directors. The company, which has been family owned since it was established in 1977, currently employs more than 280 people.
Ardmac specialises in the construction of high-quality working environments for global brands, focusing on the commercial, biopharmaceutical, medical device, datacentre, micro-electronics, retail, educational, healthcare and aviation sectors. Last year the company delivered a profitable turnover of €82 million.
With more than 100 years of combined management service in the company, the management team – which includes Ronan Quinn, Roy Millar, Alan Coakley, Colm Casey, Donal Gargan, and Cormac Smyth – believe that the business is in a strong position to grow over the coming years in its key markets of Ireland, the UK and the Benelux region.
Quinn said: “This is an exciting time for Ardmac and the management team is absolutely committed to driving the business forward, to take advantage of market opportunities, while at the same time, looking at ways to enhance our service and offer to our valued clients.”
The management buyout has the full backing of the former owners, the McAnallen family, and has been supported by Ulster Bank, which has been its primary bank for more than 25 years. The management team was advised on the transaction by Capnua Corporate Finance and legal advisers William Fry. The McAnallen family was advised on the transaction by legal advisers LK Shields.
With a growing list of corporate clients that include Pfizer, Eli Lilly, Johnson & Johnson, GSK, Vodafone, Next, Savills, Aviva, and Merrill Lynch, Ardmac has offices in Dublin, Craigavon, Manchester, London and Brussels in addition to business partnerships in the US and Singapore.http://www.engineersjournal.ie/2015/08/11/biopharma-medical-device-specialist-contracting-firm-ardmac-management-buyout/http://www.engineersjournal.ie/wp-content/uploads/2015/07/ard11.jpghttp://www.engineersjournal.ie/wp-content/uploads/2015/07/ard11-300x300.jpgNewshealthcare,management,medical devices,pharma