Melior Equity Partners has closed its latest funding round with €160m in total capital commitments, making Melior Equity Partners Fund II one of the largest private equity funds in the state.
The fund, which will support Irish SMEs with strong growth prospects, has been backed by local and international blue-chip investors, including the Carlyle Group, the European Investment Fund (EIF), Ireland Strategic Investment Fund (ISIF), Bank of Ireland and AIB.
"We are very proud of what the Melior team has achieved over the last two years," said Jonny Cosgrave, who co-founded Melior Equity Partners with Peter Garvey in 2020. "We have welcomed several new limited partners to our blue-chip investor base and succeeded in raising one of the largest Irish private equity funds."
Melior will now target 10 equity investments in private Irish companies over the next four years, worth between €20m and €100m, with a focus on founder-owned SMEs seeking capital and support to radically accelerate their growth.
The fund said it would use its international networks and expertise as well as its experience of the Irish market to provide a differentiated proposition for business owners and management teams with strong growth ambitions.
In Association with
Melior recently completed the second investment from Fund II, in treasury management solutions business Salmon Software, after investing in BHP, an insurance brokerage focusing on the not-for-profit sector, last August.
The firm recently hired former Key Capital head of corporate finance Jonathan Dalton as managing director and roped in Glen Dimplex CEO Fergal Leamy, Sustainability Works founder Laura Heuston, former VHI CEO Jimmy Tolan, Google senior director Conor Jones, former Tughans senior partner John-George Willis, and Prepay Power chairman Ulric Kenny as senior advisors.
Campbell Dwyer, former co-head of Global Technology, Media and Telecom (TMT) at Carlyle Group recently joined Melior's senior advisor panel, and he has been tapped to help investee companies grow in North America.
Peter Garvey, Co-Founder of Melior Equity Partners, commented: “We have the most experienced investment team in the Irish market.
"We have built strong track records at leading global investment firms over many decades as well as locally over the last eight years working with ambitious Irish management teams.
"We have a tremendous bench of senior advisors and an unmatched international reach through our ongoing relationship with The Carlyle Group. Collectively these attributes make Melior the partner of choice for many Irish business owners seeking help to grow.”
Cosgrave and Garvey previously led the CCI Fund for the Carlyle Group, investing in companies such as AA Ireland, Carroll Cuisine, GSLS, Learning Pool, Lily O’Brien’s, McCauley Pharmacy, Payzone, Sports Surgery Clinic and The City Bin Co.
Asante Capital Group acted as exclusive fundraising advisor, Travers Smith was lead counsel, McCann Fitzgerald supplied Irish legal support, and KPMG provided tax advice on the Fund II fundraising effort.
Photo: Melior Equity Partners Jonny Cosgrave (left) and Peter Garvey.
