What's your name?
What position do you hold?
Founding Director of private equity firm Renatus Capital Partners.
What are your day to day responsibilities?
Originating SME opportunities to invest our equity in, helping execute deals and making sure the potential of the investment is being realised.
What is your professional background?
I am a qualified accountant having trained with BDO.
You are speaking at the 2019 Growth Capital Summit. What are you speaking about?
I’m speaking about the value that equity investment can bring to a growing business - from the peace of mind a business owner can get from selling a stake in their company to the value a strategic partner can bring in maximising the potential of a business.
What have been your highlights in business over the past year?
We have continued to work with three superb companies and management teams that we have invested in; Rennicks, Boojum and Simtech.
We have supported the management team in Boojum, an expanding burrito restaurant chain, which has grown by 4 times in terms of stores and 5 times in term of revenue in less than 4 years. We have doubled the capacity of the student pilot training in Simtech Aviation, an Irish flight simulation and pilot training provider, the biggest of its kind in the EU.
We have hired a world-class CEO and senior management team and are on the cusp of making an even bigger investment to fund the opportunity. We have also opened up an American operation in Rennicks, a leading distributor of retroreflective and reflective traffic signage solutions, since we backed an MBO and continue to grow this business.
What’s next for your company?
We have raised €35m from a group of self-made entrepreneurs that we will invest in further great companies and management teams.
What new trends are emerging in your industry?
We are seeing ourselves as solutions to succession problems and also an enabler for international and acquisitive growth for companies. Many founders want to monetise some of their success and take some of their wealth out of their company shareholding and into their family and personal bank accounts. Furthermore, they want a partner to help them realise the potential of their business. Also, many companies need a partner to grow internationally and we bring capital and expertise to help them do just that.
What are the challenges facing your industry going forward?
The unfavourable Capital Gains tax regime for Irish vendors compared to their UK counterparts. Capital tax rates were increased significantly in Ireland during the recessionary years; the headline rate for business disposals now stands at 33pc, in contrast with a rate of just 20pc in the UK. This is a significant difference and, while both jurisdictions allow for a special 10pc on some business disposals, the UK relief is potentially more lucrative and easier to claim.
Mark Flood will be speaking at the Growth Capital Summit on May 30th in the Clayton Hotel, Burlington Rd. To find out more about this event. Click HERE.