Mergon Group announces major investment from Elysian Capital for next phase of growth

 In News

Mergon Group, the provider of innovative plastic moulding solutions to the automotive, healthcare & industrial sectors, today announced that Elysian has acquired a majority stake in the company, with the Beirne family continuing to retain substantial minority ownership. The investment will allow Mergon to embark on a new growth phase with an ambitious target to grow its business by 50% in the next three years. Led by current CEO, Pat Beirne, and the existing management team, Mergon will accelerate its international expansion, building on its offering in China in particular, and diversify into new products.

Mergon was founded in 1981 in Castlepollard, Co Westmeath, as a plastics moulding business. Over nearly forty years, it has grown to become a global specialist provider of technical services, systems and components to leading brands in the automotive, industrial and healthcare sectors. The company opened in South Carolina, USA in 1998 and subsequently in the Czech Republic in 2004. Today Mergon Group employs over 660 people across its three sites.

Elysian Capital is a well-established UK-based private equity firm, investing in entrepreneurial management teams throughout the UK and Ireland. It has a long track record of successfully helping grow companies it invests in, organically and through selective acquisitions, including Fastflow, a utilities and property services business, acquired in 2017 with management, and Raymond Brown Minerals and Recycling Limited, an aggregates and recycling business, and The Pebble Group, a world leading designer and supplier of promotional products to major companies in Europe and the USA. Pebble Group was listed on the London Stock Exchange in December 2019.

Commenting on the deal, Pat Beirne CEO Mergon Group said:

“We are delighted to announce this deal, which will provide Mergon with the funds and expertise to continue to grow the business and expand into new markets, in particular in China, where we see huge opportunities. We were attracted to the entrepreneurial culture of the team at Elysian and their success at helping companies like ours to grow. We are targeting growth of 50% in the next three years and look forward to creating an exciting future for Mergon, our employees and our partners”

blankKen Terry CEO of Elysian said:

“The management team at Mergon has created an impressive business servicing the automotive, industrial and healthcare sectors. They have successfully identified and delivered on opportunities in their chosen markets worldwide and we are very proud and excited to be able to support them on the next phase of their journey”.

Elysian Capital was advised by Addleshaw Goddard (Manchester); A&L Goodbody (Dublin); Price Waterhouse (top up DD and Tax); Roland Berger (Commercial); ERM (Environmental) and Aon (insurance). The vendors and existing Management were advised by Matheson (legal), Deloitte Corporate Finance Dublin (Advisory and sell-side VDD); CIL (sell-side Commercial DD). Banking was provided by AIB and Bank of Ireland.

For further queries please contact:

Mergon Group media queries: jack.hickey@powerscourt-group.com

Ken Terry, CEO, Elysian Capital LLP: ken@elysiancapital.com

Information

ELYSIAN CAPITAL LLP (www.elysiancapital.com)
Elysian Capital is an independent private equity fund specialising in the UK and Ireland lower mid-market. The management team combines entrepreneurial and business operational competence with an experienced private equity and leveraged debt capability, providing the full range of skills needed to make and develop successful investments in Elysian Capital’s target markets.

Investment Focus

  • UK and Irish businesses with EV of up to £100 million
  • £250m Fund II raised in 2015.
  • Real operational management experience in-house, creating empathy with management teams and helping them develop practical solutions for the challenges and opportunities they face
  • A regional presence with partners based locally, recognising that there are great businesses throughout the UK and Ireland and we want to serve them better
  • A significant personal financial commitment by all members of the firm to the funds ensuring strong alignment with management teams and investors. The team has contributed £41m across the first two funds (11% of all Funds)
  • Outstanding private equity skills and experience, developed over more than 25 years, to identify and complete attractive deals.

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