Erisbeg completes €17m deal to acquire majority stake in British IT service firm Fruition

The Dublin-based private equity fund said the deal will add to its existing portfolio of IT focused companies

Thomas Davy of Erisbeg (centre) with Sarah Pawson (left) and Martin Jones (right) of Fruition

Erisbeg, the Irish private equity firm backed by AIB, has acquired a majority stake in a British IT services and recruitment business as part of €15 million deal.

On Thursday, the Dublin-based fund announced it had acquired a controlling stake in Fruition, an IT services company headquartered in Leeds which operates two complimentary businesses. The first is a specialist IT recruitment division, called Fruition IT and the second is a technology development unit called Fruition ...