Investment powers Bellew Electrical’s scale-up plans

Backing by private equity firm Waterland will accelerate Bellew Electrical’s ambitious growth strategy across Ireland and potentially beyond.

Family business Bellew Electrical has received the backing of private equity player Waterland, a business that specialises in scaling up SMEs to become global players.

Operating for the past 18 years in Drogheda, Dundalk, Castleblayney and Crossmaglen, Bellew Electrical has grown to become one of the largest independent electrical wholesalers in Ireland.

“Waterland’s support is a great reflection on our people and the quality of our business, and we look forward to working with them over the coming years”

The business recently opened a Central Distribution Warehouse in Dundalk.

Power surge

Group of people in front of two white vans.

Laura Dillon and Ollie Bellew with members of the Bellew team

“We are delighted to be partnering with the Waterland team who are experienced in working with family businesses and share our vision for growth,” said Ollie Bellew, CEO of Bellew Electrical.

“Having such a strong and experienced partner enables us to accelerate our ambitious plans for growth in Ireland and further afield. Waterland’s support is a great reflection on our people and the quality of our business, and we look forward to working with them over the coming years.”

Headed in Ireland by Laura Dillon, Waterland is an independent private equity group set up 24 years ago in Holland with over €14 billion in assets under management. The group acts as an active shareholder in its portfolio companies, working in close partnership with management to drive their strategic development, performance and growth trajectory.

Waterland intends to support the company through board appointments and recently appointed a CFO.

The private equity player has now partnered with more than 20 Irish businesses in the last three years, adding 1,000 roles to these firms through new hires and M&A.

Between them these companies will grow their revenues to more than €350m.

Such businesses include Wtech Fire Group, Silver Stream, NetZero and MTM, to name a few.

“Bellew is an exceptional business supported by a team of excellent people,” said Dillon. “They have a great track record and reputation in the industry for unmatched product quality and customer service.

“We are very excited about the future prospects for the business and look forward to working with the team to build on their successes to date and realise our joint growth ambitions.”

Main image at top: Waterland Ireland partner Laura Dillon with Bellew Electrical CEO Ollie Bellew

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