BP Multipage has acquired Regional Electrical Maintenance in Ashbourne, a provider of access control, automation, and security systems to private and public sector clients. 

REM was founded in 2001 and was owned by Chris Murray, James Tunnah, Siobheal Cummins and Gemma Lawless.

Regional Electrical Maintenance had 15 people employed in the year to March 2022 and booked a net profit of €770,000. Net worth at period end was €3.15m.

REM management will remain with the business post transaction.

BP Multipage is a portfolio company of Erisbeg, the private equity fund led by Alan Kerr and Thomas Davy.

In Association with

The fund has also announced that it has secured €10m participation from AIB, bringing the fund value to €110m. 

The Erisbeg I LP fund invests in Irish SMEs in the business services sector to help them to grow their business in Ireland, and internationally, both organically and through acquisition. It targets companies with Ebitda in excess of €1m.

Erisbeg said the firm typically works with the existing management and shareholders of the SME.

Its portfolio businesses have combined annual sales exceeding €130m, generating annual profits of c.€25m and employing close to 700 people.

Since launch in 2017, Erisbeg has completed 11 transactions, including Dixon International Transport, which acquired Carna Transport in Monaghan last month.  Other investments include Medray, Chris Mee Group and BP Multipage.

Alan Kerr, Erisbeg managing partner, said: “The fund is performing very well. Our portfolio is growing strongly, and we have identified a number of complementary acquisitions for portfolio companies. Our focus is on business services and companies in this sector have proven to be resilient and well prepared to withstand some more challenging times ahead.”

For the AIB fund raise, Erisbeg was advised by Acanthus Partners.

Photo: Erisbeg principals Alan Kerr (left) and Thomas Davy. (Pic: Chris Bellew / Fennells)