July 2018: MBO of leading Irish recycling engineering business Turmec

Turmec (www.turmec.com) is an Irish-based expert in the design, manufacture and installation of recycling plants and equipment. The business specialises in the end to-end design and build of complex waste separation and processing systems which are critical for large, efficient waste processing and recycling plants. The business serves a blue-chip customer base of corporates and semi-state agencies including Biffa, Thorntons, Suez, Bord na Mona, AES and Powerday predominantly across the UK and Ireland, but increasingly further overseas.

The global opportunity for Turmec is expanding rapidly in line with increased recycling rates due to environmental concerns and the pressures on landfill. This is good news for Turmec as its systems help customers to recover more high-quality material from recycled waste more efficiently.

The business employs 75 people in its headquarters in the Irish-speaking Gaeltacht area of Co. Meath, at Athboy. Causeway invested c.€4 million to back the MBO team led by Managing Director, Brian Thornton. Former majority shareholder Joe Coffey will remain involved in Turmec. Niall Fay, a Director at Offaly-based Grant Engineering, has joined the board as non-Executive Chairman.

See coverage here.

May 2018: Growth capital investment in UK-based online fast-fashion retailer In The Style

In The Style (www.inthestyle.com) is an online fast-fashion retailer which uses the reach of social media influencers by designing collaborations with them which are sold online along with their own brand collection. The business has over 2 million direct social media followers and a wider reach of over 25 million through its influencers, generating over 2 million visitors to the website per month.

Founded in 2013, In The Style is headquartered in Manchester, UK and exports all over the world. In The Style has revenue of over £20 million, and Ireland is the company’s second largest market after the UK. The business is led by founder and CEO, Adam Frisby, and COO, Paul Masters, who previously worked with fashion brands Missguided and Bench.

In The Style has recently announced a number of exciting new collaborations with influencers, including one with Dani Dyer, winner of ITV’s Love Island 2018 who boasts over 3.5m followers on social media – her collaboration launched on 10 October 2018.

See coverage here.

February 2018: Bolt on acquisition of Millbrook Linen by Celtic Linen

In February Celtic Linen, Causeway Capital’s third investment and the leading nationwide commercial laundry operator serving the healthcare and hospitality sectors, acquired Millbrook Linen and appointed Tom Joyce as Chairman.

The acquisition provides Celtic Linen with a second laundry facility located in Naas, Co. Kildare which will operate alongside Celtic’s existing facility in Wexford. This will enhance the quality of the group’s nationwide service to its hospital, care home, hotel and leisure operator customers.

Following the transaction, the Millbrook shareholders will become shareholders in the enlarged Celtic Linen group. The acquisition follows a twelve month, multi-million programme of capital investment by Celtic Linen in new, efficient equipment and high-quality linen for customers.

See coverage here.