Elysian acquires Mergon

Elysian drew equity from its second-generation fund, which closed on £250m in 2015. The vehicle is currently 72% deployed. This is the firm's third acquisition in 2019.

The debt to equity ratio on this deal is approximately equal. Debt was provided by AIB and Bank of Ireland.

The founding Beirne family have retained a substantial minority ownership. Led by current CEO Pat Beirne and the existing management team, Mergon will put the investment towards accelerating its international expansion, building on its offering in China and diversifying into new product areas.

Company
Mergon is a provider of plastic moulding products for the automotive, healthcare and industrial sectors. It is also a provider of technical services, systems and components. Mergon was founded in 1981 in Castlepollard, and opened in the US in 1998 and subsequently in the Czech Republic in 2004.

Mergon employs 660 people across its three sites. Revenues for the company are in excess of €100m.

People
Elysian Capital – Ken Terry (CEO).
Mergon Group – Pat Beirne (CEO).

Advisers
Equity – Addleshaw Goddard (legal); A&L Goodbody (legal); PwC (financial due diligence, tax); Roland Berger (commercial due diligence); ERM (environmental due diligence); Aon (insurance due diligence).
Vendor – Matheson (legal); Deloitte Corporate Finance Dublin (corporate finance); CIL (commercial due diligence).
Management – Matheson (legal); Deloitte Corporate Finance Dublin (corporate finance); CIL (commercial due diligence).

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• Topics
• Buyouts
• UK / Ireland
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• Elysian Capital
• Deloitte
• Addleshaw Goddard