Bretland Construction founders Fechin and Mary Daly will exit the Offaly firm following a management buyout.
Managing director Coleman Yates, operations director Anne Marie McCormack, commercial director Tony Meehan and finance director Ruth Heeney will take over ownership of the construction company with the MBO.
The Dalys established the Bretland in 1999, and the company has become a respected builder of residential homes as well as complex commercial and industrial developments across Ireland.
In 2023, the company reported turnover of €19.3m and profit of €405,300, bringing its net assets up to €4.7m. The firm employs around 18 people.
“We are delighted to have successfully completed this significant milestone and are genuinely excited about the opportunities ahead. Bretland Construction has always thrived on a foundation built of integrity, excellence, and teamwork," said Yates.
"We are committed to continuing this tradition of delivering exceptional results for our clients. On behalf of our entire management team, I want to sincerely thank Fechin and Mary Daly for their unwavering support, mentorship, and trust over the years. Their legacy will be honoured as we embark on our next chapter of growth and innovation.”
“This MBO marks a major turning point for Bretland Construction and our dedicated employees. Just as every successful building project starts with meticulous planning and solid foundations, our continued success will be based on our experienced and passionate team," he continued.
"Our vision is clear, to lead the industry by upholding the highest standards in quality, safety, and sustainability. I extend my heartfelt thanks to every team member whose hard work and dedication have made this milestone possible.”
Byrne Wallace Shields partner Ross Little, Interpath Advisory lender advisor Owen Travers, UHY Farrelly Dawe White's Derek Dervan and PTSB banking manager Philip Carey advised Bretland on the transition.
“This landmark transaction represents a significant milestone for Bretland," said Travers.
"With an exceptional track record for delivery on both private and public projects, along with a strong pipeline of future construction, civil engineering and infrastructure projects, the business is well-positioned for its next phase of growth.
"The deal demonstrates the ambition of the leadership team to fully embrace this growth potential in the years ahead.”
Photo: (l-r) Coleman Yates, Anne Marie McCormack, Ruth Heeney, and Tony Meehan. (Pic: Supplied)
