𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭!!!
Big news today from IT.ie!
We’re absolutely thrilled to announce that IT.ie has acquired Abacus Systems & Networks Ltd. a leading MSP supporting Irish businesses since 1992.
This marks a major step forward for us—but more importantly, it means even more value and support for our amazing clients. With Abacus on board, we’re growing our team, expanding our expertise, and increasing the range of services we offer, all while staying true to what matters most:
🔹 Putting people first
🔹 Delivering exceptional service
🔹 Helping businesses thrive through technology
Together, we’re here to support you better than ever before—and we can’t wait for what’s ahead.
We’d like to extend our sincere thanks to those who supported us throughout this process:
🔹Paul Cantwell of Cantwell Finance Cantwell Finance for his guidance and support
🔹Fiona Hickey of FAH Chartered Accountants for leading the Tax Due Diligence
🔹Rory O’Keeffe and Kevin McCabe BDO Ireland for Financial Due Diligence
🔹Eoghan Murphy, Conor Mac Nally and Joe McVeigh of BHSM LLP for their legal expertise
🔹 Stephen Noonan of Noonan Solicitors and John Murray of Hibernia Corporate Finance, who provided valuable support to the Abacus team
A very special thanks to our own 𝐌𝐚𝐫𝐠𝐚𝐫𝐞𝐭 𝐍𝐨𝐥𝐚𝐧, Head of Finance, and Siobhan Breen for their outstanding work and dedication throughout this journey.
Finally, we’d like to extend a warm welcome to the entire 𝐀𝐛𝐚𝐜𝐮𝐬 𝐭𝐞𝐚𝐦—we’re genuinely looking forward to getting to know each and every one of you. We’re also delighted that the Abacus leadership team— Derek O’Callaghan, Eoghan Johnson, David McDonald and Stephen Mullin, will remain in their current roles.
ALS Identify acquires Metal Masters
Deal Details: ALS Identify has acquired Metal Masters. Deal consideration was not disclosed.
ALS Identify specialises in the design and build of custom labelling systems and Auto-ID equipment. The Dublin-based business is led by Pat Phibbs and currently employs 16 people with this deal expected to take this number to 19. The business does not report revenue or EBITDA information.
Metal Masters is a manufacturer of custom-built conveyors and conveyor systems based in Dublin. The business was founded by David Benzies in 1990. The business does not report revenue or EBITDA information
Advisers:
ALS Identify:
Deal Advisory: Prosperous Group led by Tommy Boyle.
Legal: Burns Nowlan Solicitors led by Stephen McGrath.
Metal Masters:
Deal advisory: Cantwell Corporate Finance
Renatus Comment: ALS Identify is viewing this move as an opportunity to generate synergies with a company that it has been working with for almost 20 years. The business has ambitious growth targets and has already purchased a building at Plato Business Park in Mulhuddart to accommodate this growth. The additional workshop space will enable larger and more complex labelling, identification and conveyor systems to be developed and further R&D, according to MD Pat Phibbs. ALS is also planning to recruit additional engineers which will enable it to expand its client base in the pharma and medical devices, food and drink, agri, personal care, and cosmetics sectors. Source: ALS Press Release
Irish Accountancy Awards 2023
We were delighted to win the award for Advisory Team of the Year – SME Finance at the recent Irish Accountancy Awards. The judges said,
“Congratulations to this deserving winner whose entry showcased excellent collaboration with clients and advisors, achieving desired client outcome. Impressive corporate finance expertise and deep understanding of clients’ needs were clear. Tailored financial solutions and dedication to top-quality service were also highlighted and our panel wanted to commend this outstanding entry which demonstrated exceptional skills in corporate finance!“
We were also one of the 8 finalists in the overall advisors of the year category. Paul Cantwell commented,” We are delighted to receive this award which recognises our efforts in being an independent provider of corporate finance to the SME Sector. While we have a small in-house team, by working closely with our clients, their accountants and our team of consultants we are able to advise on all corporate finance and recovery matters from raising funding for expansions, management buy-outs to complex company sales”.
A video from the awards night and some photos are below.
Cantwell Corporate Finance advises Optinergy Limited on the acquistion of Lotus Energy Systems
Source: Irish Times Tue, Jul 26, 2016
Fifty new jobs have been announced as Optinergy, the Irish-owned service provider in windfarm operation and maintenance.
It follows Optinergy’s acquisition of the Wind O&M (Operation and Maintenance) division of LotusWorks, Lotus Energy Systems.
The newly expanded operation will create an additional 50 jobs over the next 5 years for engineers and advanced trades people in rural Ireland.
The acquisition will enhance Optinergy’s position as the largest wind independent service provider in the Irish market, delivering additional €5 million revenue for Optinergy over the next 5 years.
The company is heaquartered in Stradone, Co. Cavan with sub offices in Letterkenny, Sligo, Tullamore, Tralee and Skibbereen.
Optinergy specialises in the provision of O&M services to the wind industry, both on the island of Ireland and throughout Europe, and is part of the Galetech Energy Developments Group Ltd.
Optinergy works with companies in Ireland’s wind energy sector, including Brookfield, Bord Na Mona, Wind NI and many independently-owned wind farms and utilities.
Managing Director of Optinergy, Aiden Watters said the expansion further enhances Optinergy’s position as the largest independent O&M provider in Ireland.
“The jobs which we are announcing today are mainly for engineers and advanced trades people. To date, this work has often been carried out by international companies, coming to Ireland on a project by project basis. We are delighted to be building a business which can provide jobs locally, across Ireland, and can compete in an international market,” he said.