Irish specialist contracting company Ardmac has been acquired by six of its executive directors.
Founded in 1977, Ardmac specialises in the construction of high-value working environments for global brands, focussing on the commercial, biopharmaceutical, medical device, datacentre, micro-electronics, retail, educational, healthcare and aviation sectors.
The company, which has been family owned since it was established in 1977, currently employs over 280 people. Last year the company delivered a profitable turnover of €82 million.
With over 100 years combined management service in the company, the management team, comprising of Ronan Quinn; Roy Millar; Alan Coakley; Colm Casey; Donal Gargan; and Cormac Smyth, believe that the business is in a strong position to grow over the coming years in its key markets of Ireland, the United Kingdom and the Benelux region.
Ronan Quinn, said: “This is an exciting time for Ardmac and the management team is absolutely committed to driving the business forward, to take advantage of market opportunities, while at the same time, looking at ways to enhance our service and offer to our valued clients. Without the hard work and dedication of our talented team and the loyalty of our clients, the business would be in a totally different position than the one of strength it holds today. We would like to take this opportunity to thank all of our staff and all of our clients for their on-going support and we look forward to working with them all in the years ahead.”
The management buyout has the full backing of the former owners, the McAnallen family, and has been supported by the business’ existing financial institution, Ulster Bank, which has been its primary bank for over 25 years. The management team was advised on the transaction by Capnua Corporate Finance and legal advisors William Fry. The McAnallen family was advised on the transaction by legal advisors LK Shields.
With a growing list of corporate clients that include Pfizer, Eli Lilly, Johnson & Johnson, GSK, Vodafone, Next, Savills, Aviva, and Merrill Lynch, Ardmac has offices in Dublin, Craigavon, Manchester, London and Brussels in addition to business partnerships in the US and Singapore.