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Deal Details: OBMG has been acquired by Salute Mission Critical. Deal consideration was not disclosed.

OBMG is an Athlone-based provider of commissioning services for mission-critical facilities such as data centres. It was owned by Michael O’Brien and Gareth McGowan. It does not report turnover or EBITDA information.

Salute Mission Critical is a US-based provider of data centre services. It was founded in 2013 by Lee Kirby and Jason Okroy. The business has over 1,000 employees and serves over 330 client sites.

Advisers: 
OBMG:
Legal: BHSM LLP led by Joe McVeigh, Sinéad Mannion and Nadine Cannon.
Corporate Finance: Cantwell Corporate Finance led by Paul Cantwell​​​​​.

Salute Mission Critical:
Legal: DLA Piper led by Eanna Mellett.

Renatus Comment: Irish service providers to data centres and mission-critical infrastructure operators, continue to be in high demand, with this deal following the recent acquisition of RWL Advanced Solutions by Genuine Cable Group. As mentioned in relation to the PowerPoint Engineering deal above, there were 82 data centres in operation in the country as of June this year, with the majority owned by some of the world’s largest multinationals such as Amazon, Google and Facebook. The service provided by these Irish firms is truly world-leading and it is no accident that some of the world’s largest technology companies entrust many of their critical assets to Irish hands. Source: Salute Mission Critical Press Release

Cantwell Corporate Finance are delighted to have been shortlisted in 2 categories for the Irish Accountancy Awards 2023.

Advisory Team of the Year

Advisory Team of the Year – SME Finance

The awards event will take place in Dublin on 25 May.

We recently advised the McCambridge family on the sale of their company to Musgrave as reported in the Galway Advertiser

Linley Mackenzie Galway Advertiser, Thu, Aug 11, 2022

Galway’s famous family-owned fine food shop McCambridge’s has been sold to Irish grocery giant Musgrave Group.

The award-winning deli, wine outlet and restaurant is an institution in the city centre since opening its doors in 1922, and with three generations at the helm, the sale to Musgrave will come as a huge shock to Galwegians.

The current managing director Eoin, grandson of founder George, and sisters Natalie and Norma agreed to sell to wholesale and retail grocery giants Musgrave for an undisclosed sum after putting the business up for sale on the open market.

Although the family is understood to be retiring from the business, it is expected Musgrave will keep the current to staff of 34 when they take over in the near future, while no immediate changes to the shop are expected.

Musgrave, which owns all Supervalu and Centra businesses, is seen as a good fit for the McCambridge’s brand with many of its businesses, both retail and wholesale outlets, being operated independently. In addition Musgrave acquired Donnybrook Fair in 2018 in a move towards more upmarket food retail outlets, products which are now supplied across Supervalu outlets. It is understood some 70 per cent or more of its products are sourced in Ireland, and that is expected to continue when the change of ownership is complete.

In a statement Musgrave described McCambridge’s as a “fantastic addition” to the group which “aligns with our purpose of Growing Good Business”.

“McCambridge’s is internationally, nationally and locally acclaimed, and greatly admired by food lovers over many years.

“The store currently employs 34 people, all of whom will remain with the business as part of the transition to the Musgrave group. We look forward to working with them as part of the business integration process over the coming months.”

The McCambridge family says they believe the sale of the business is an “exciting development” and “one that will both secure employment and the shop’s future as part of a new chapter in the long history of McCambridge’s”.

“From one family business to another, we believe Musgrave’s values are strongly aligned to our own, and we look forward to watching the store thrive under new ownership.”

The McCambridge family thanked “all colleagues and suppliers, past and present, for their hard work and support”.

“We would like to thank our professional team of Cantwell Corporate Finance Ltd, Sheehan & Co Solrs, and Coll & Co. Finally, we would like to extend our appreciation to our customers for their loyalty through the years. We could not have run such a successful and long-standing business without them.”

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Cantwell Corporate Finance advises clients looking to sell, expand or acquire businesses. We also support Accountancy Practices in providing valuation, succession planning and insolvency services to their clients. Due to client demand we are looking to expand our team and we are looking for two motivated candidates seeking challenging and diverse roles.  

Athlone ladies, Serena Friel and Karen Reynolds, are undertaking  an ultra swim in support of the construction of a new RNLI Life Boat Station at Coosan Point to service Lough Ree and the Shannon.

Serena and Karen have been training  for over a year to complete the 32km relay swim from Lanesboro bridge to Athlone town bridge, later this month, with the date to be determined by weather conditions to suit the swim. This is the first time it is being attempted in this format.

While the straight line distance between the 2 bridges is 32km, the swim will be much longer as a result of current, winds and navigation and is expected to take up to take between 12 and 14 hours to complete. There’s been huge interest in “Wild Swimming” since the outbreak of Covid, but this swim takes it to another level.

The Swim will be under Cross Challenge Swim Rules which mean the swimmers must not be assisted by any kind of artificial aid – and  are only permitted to use goggles, one cap, a nose clip, ear plugs and one costume, that must be sleeveless and legless.

To sponsor Karen and Serena’s efforts and donate to the Lough Ree RNLI Lifeboat station appeal please click on the link to the gofund me page below:

https://gofund.me/199d3d04

Pictured above are: Karen Reynolds and Serena Friel (In the Boat), with some of their support team Damien Delaney, Jude Kilmartin, Carmel Hughes, David Warby, Vincent Rafter and Paul Cantwell.

Lough Ree RNLI

Lough Ree is home to one of Ireland’s busiest lifeboat crews, currently operating from temporary facilities. 

Lough Ree volunteer crews have been rescuing people from the lake’s 28km stretch of inland water since 2012, launching more than 370 times and helping over 1,060 people. They are currently operating from temporary shipping containers but are planning to move to a new purpose built station with modern facilities for casualties, crew and craft.

The RNLI is a charity funded by donations and the local RNLI crew are trying to raise €100,000 towards  the overall cost of this new building.

The new lifeboat station will enhance search and rescue on Lough Ree and the Shannon and will boost water safety and education activities in the local community.

Updates:

We’ll be providing updates on the swim on social media over the next two weeks using the  hashtag

#loughree32kchallenge

Good businesses often don’t sell because the owner is seen to play too great a role in management. We maintain a database of owners who want to sell and managers who want to become owners in order to facilitate sales.

We placed an advert in the Sunday Business Post during January to raise awareness of our database and our services to sellers and management teams.

If you or one of your clients fit into either category, please get in touch.

We were delighted to act as Corporate Finance Advisors to Galetech Energy & Associates on the sale of a 50% interest in Carrickallen Windfarm to Greencoat Renewables Plc.

Source: RTE Business Wednesday 8th July 2020

Source: IP Real Assets Magazine Wednesday 8th July 2020