Paul O’Connell helps Pinergy put its energy into the SME market
Seen & Heard: Kerrygold v Irishgold; INM’s Celtic Media bid; FL Partners’ social housing
Pinergy, which counts former Ireland rugby captain Paul O’Connell among its investors, will offer a range of sustainable energy solutions for businesses, including solar energy and retro-fitting of LED lighting
Pay-as-you-go electricity company Pinergy is expanding its services to target the small and medium-sized enterprises (SME) market, according to the Sunday Independent.
The company, which counts former Ireland rugby captain Paul O’Connell among its investors, will offer a range of sustainable energy solutions for businesses, including solar energy and retrofitting of LED lighting. The expansion will require fundraising of €5-€10 million, Pinergy chief executive Enda Gunnell told the newspaper.
Ornua in US battle of the butter brands
Kerrygold butter-makers Ornua, the former Irish Dairy Board, has entered court-ordered talks in the US to try to resolve a legal dispute over the sale of a rival butter product, reports the Sunday Times.
The Irish company’s attempts to get butter onto shelves in Wisconsin hit an obstacle in April when it got a temporary restraining order to stop the sale of butter by the US company with which it was set to partner. Ornua alleged that Old World Creamery had infringed copyright when it began to sell butter under the name Irishgold.
Report due on INM’s Celtic Media bid
The Department of Communications plans to publish the Broadcasting Authority of Ireland’s report into Independent News & Media’s proposed takeover of Celtic Media, according to the Sunday Business Post.
The proposed deal was cancelled shortly before Minister for Communications Denis Naughten was due to rule on the matter, but he had already received the report reviewing it on media plurality grounds.
In the interest of ensuring the process is “as transparent as possible”, the report will be published, but only once commercially sensitive information has been identified and removed.
FL Partners eye up social housing projects
The principals of Irish investment firm FL Partners are understood by the Sunday Independent to be exploring social housing projects worth €50 million in Dundalk and Clonmel.
The firm has bought residential sites with the potential to develop 300 units and is in discussions with a housing association about a joint effort.
Barclays hired to help rescue Co-operative Bank
According to the Sunday Telegraph, the Qatari conglomerate Al Faisal Holding and Swiss investment firm Interritus considering a bid for the UK’s struggling Co-operative Bank have hired Barclays to help them put together a potential rescue of the troubled lender which is in danger of being wound down by the regulator. The bank put itself up for sale in February.