• New office space at Ella House on Merrion Square
• Appointment of Jacqueline Flynn from BlackRock as Operations Director

 

DUBLIN, 21 November 2023 – Exponent, a leading European private equity firm, is delighted to announce that it has chosen Dublin for its new operational base. This decision underscores Exponent’s long-standing commitment to investing into Ireland.

This new office, located at 39 Merrion Square, follows Exponent's decision to utilise Ireland’s newly revised Investment Limited Partnership (ILP) structure, following approval from the Central Bank of Ireland (CBI) for Exponent’s Irish business to operate as an Alternative Investment Fund Manager (AIFM).

The Dublin office will be led by Jacqueline Flynn, who joins the Firm as Operations Director from BlackRock where she most recently served as Chief Operating Officer for its Irish operations. Jacqueline is joined by relocating members of the Firm's finance and investor relations functions and more hires will be made across functions. The Dublin office will also support the Firm’s investment activity in Ireland led by David McGovern, who has responsibility for investing in Ireland, alongside other senior members of the Exponent team who are focused on the region.

The milestone follows the recent sale of Enva, the leading provider of recycling and resource recovery solutions, which Exponent acquired in 2017 as a carve-out from Irish-headquartered and FTSE 100 company DCC plc. The business was sold in June to a global infrastructure manager and delivered a near 4x return for Exponent’s investors. The success of Enva builds on Exponent’s exceptionally strong track record of investing in Irish founder, family or corporately owned companies.

Exponent is today a proud investor in H&MV Engineering, working alongside founder PJ Flanagan. H&MV is a leading global provider of specialist Design, Engineering and Construction Services for the energy market and recently opened its new global headquarters in Castletroy, Limerick, where the business will lead a global expansion including the creation of 700 jobs over the next five years.

David McGovern, Partner at Exponent said: “Ireland is a compelling environment to invest the resources of our Firm and opening an office in Dublin is a natural and exciting step for our business. The Exponent platform has been further enhanced by the high-quality team assembled in Dublin and we are delighted to welcome Jacqueline on board. We are resolute in our commitment to Ireland and look forward to expanding the team in the years to come as we continue our investing journey in the Irish market.”

Exponent is the leading investor in Ireland and the UK for corporate carve-outs and acquiring founder-led businesses, and has made twelve investments in Irish-owned or Irish-based businesses that total over €1 billion. These include five platform and seven bolt-on acquisitions since 2012. A selection of flagship investments in Ireland include:

 

• Fintrax (now called Planet), a Galway-based financial services firm and leading global provider of VAT refund and dynamic currency conversion services, was acquired by Exponent in 2012 from its founder Gerry Barry. Exponent appointed former Bank of Ireland executive Patrick Waldron as CEO, with Exponent Operating Partner and former Dell executive John Moore as Chair, selling the business in 2015. Having invested in capabilities and technology, profits doubled under Exponent’s ownership and new market entry resulted in operations in over 30 countries;
• Enva, the leading waste management, recycling and resource recovery business in the UK and Ireland, was acquired by Exponent in 2017 as a carve-out from an Irish-headquartered and FTSE 100 company DCC plc. Exponent worked with management to turn Enva into a champion of environmental sustainability, partnering with Niall Wall, the former CEO of Ardagh Group, as Chair of the business. Today, Enva is a leading, diversified resource recovery player, significantly contributing to the circular economy in the markets in which it operates. Exponent recently announced its successful sale to a global infrastructure manager;
• H&MV Engineering, the specialist in high-voltage electrical engineering. It is based in Limerick and serves blue-chip data centre, renewables and utilities clients across EMEA. Exponent, together with founder entrepreneur PJ Flanagan as CEO, is working with the business to accelerate its international growth, expand its design and delivery resource and improve its business development capabilities - transforming the business into a pan-European leader.