Private equity firm Waterland targets ambitious Irish companies as portfolio revenues reach €1.15bn and workforce expands by 2,200.
Waterland Ireland has committed €250 million to support the growth and expansion of Irish businesses over the next 18 months as the private equity firm looks to deepen its investment footprint in the market.
The Dublin-based arm of the pan-European investment firm said the funding will provide management teams with access to capital, strategic expertise and international networks to help accelerate growth, enter new markets and pursue acquisitions.
“This commitment reflects our continued confidence in Ireland as a source of ambitious, high-quality businesses with significant growth potential”
Waterland said it also has the flexibility to invest additional capital should suitable opportunities emerge.
The announcement comes as Waterland reports strong growth across its Irish portfolio since entering the market in 2020.
Scaling machine
Companies backed by the firm have collectively increased revenues by almost €600 million to €1.15 billion and added more than 2,200 jobs, bringing total employment across its Irish portfolio to approximately 4,900 people.
That growth has been supported by 41 acquisitions completed across portfolio companies during the period.
Waterland recently announced a partnership with Primeline Group, Ireland’s largest independent provider of supply chain, logistics, sales and marketing services. The investment is designed to support the next phase of Primeline’s expansion plans.
Under the strategy, Primeline aims to increase annual revenues by more than €200 million to exceed €500 million over the next five years through a combination of organic growth and acquisitions. The company also plans to create 500 new jobs, bringing its workforce to around 2,000 employees.
The latest Irish investment commitment follows the successful close of Waterland’s 10th institutional flagship fund, Waterland Private Equity Fund X, at €4 billion, alongside Waterland Partnership Fund II, which closed at €600 million.
Waterland said the significant capital available across the funds will support continued investment in high-growth businesses in Ireland and throughout Europe.
The firm also recently completed the sale of Wtech Fire Group, marking its first Irish exit since partnering with the company in 2021. During Waterland’s ownership, Wtech completed 13 acquisitions and expanded its international fire safety platform while also delivering organic growth.
“This commitment reflects our continued confidence in Ireland as a source of ambitious, high-quality businesses with significant growth potential,” explained Laura Dillon, Partner at Waterland Ireland. “We see strong opportunities across a range of sectors, particularly in fragmented markets where businesses can scale through a combination of organic growth and strategic acquisitions.
“Our focus continues to be on partnering with management teams, entrepreneurs and family-owned companies to help them accelerate their growth ambitions, expand into new markets and build stronger, more competitive businesses. Importantly, we want to help Irish-headquartered companies grow into leading European players while maintaining their roots and creating long-term value here in Ireland.”
Since establishing its Irish office, Waterland has invested across a wide range of sectors, supporting businesses pursuing international expansion, employment growth and acquisition-led strategies.
The firm said it remains particularly interested in businesses benefiting from long-term structural trends including digitalisation, manufacturing, engineering, sustainability, outsourcing, healthcare and demographic change.
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