Brightwater Recruitment undergoes management buy-out
Company’s managing director says there is the possibility of further expansion
Brightwater managing director Barbara McGrath (centre), finance director John O’Donnell, and executive search director Estelle Davis.
Brightwater Recruitment is under new ownership following a management buy-out.
The recapitalisation was led by managing director Barbara McGrath, finance director John O’Donnell, and executive search director Estelle Davis. The deal was supported by Capital Step and financiers John Hannon and John Lacy.
Brightwater has offices in Dublin, Cork and Belfast, and employs 95 people across Ireland. It has experienced double-digit growth in recent years and its turnover is in the region of €18 million.
Ms McGrath said the new ownership team was looking forward to building on Brightwater’s “strong position in the marketplace and its reputation for exemplary client service”. She also said there was the possibility of further expansion.
“Our business plan is based on measured growth and further talent acquisition,” she said.
“It will be very much business as usual as we seek to support our clients throughout Ireland. However, we will also be giving serious consideration to any discrete corporate activity that fits with the firm’s culture.”
Clearwater and RDJ advised the sellers in the transaction, while KPMG, Maples, and Sherwin O’Riordan advised the new ownership group.