MJ Scannell Safety, a personal protection equipment vendor in Dublin and Cork, has been acquired by French buyer Groupe RG.

MJ Scannell Safety is based in Stillorgan in Dublin and has a second outlet in Cork.

The family business was established 1982 by Michael J. Scannell (86), and the business was owned equally by Gavin (50), Niall (52), Ruth (51) and Rachel Scannell (48). The business had turnover of €24.6m in 2021 and reported an operating profit of €820,000.

MJ Scannell Safety operates on a gross profit margin of 28% and net worth in December 2021 was €8.1m, including balance sheet cash of €2m. The five Scannell family directors shared €3m in emoluments, down from €4.6m the previous year.

Groupe RG is a distributor, designer and manufacturer of personal protective equipment. Its own brand is Ergos.

In Association with

Last year it was acquired by private equity investor Ardain, alongside management and Latour Capital, from another PE investor. Groupe RG has been on the acquisition trail through 2022, and has annual sales of c.€110m.

According to Renatus, MJ Scannell Safety had M&A deal advisory from a Deloitte team led by Jan Fitzell, Denis Murphy, Paul O’Neill and Michael Grufferty. Flynn O’Driscoll is providing legal counsel.

Groupe RG is being advised by a Philip Lee team led by Eoghan Doyle and including Hugo Grattirola, Patrick Egan and Tom Conway. Grant Thornton is providing due diligence and tax advice.

Pic: Getty Images