19 Oct 2023 | 03:58 pm | 1 min. read
Multinational law firm Pinsent Masons has advised Dublin-headquartered private equity firm Erisbeg on a majority investment in Fruition IT and Fruition Consulting.
Erisbeg is an Irish private equity fund which invests in and further develops established businesses in Ireland and internationally. Established in 2017 by Alan Kerr and Thomas Davy, it has raised a €110 million fund which has been invested in growing businesses in the critical communications, healthcare, compliance, logistics and recruitment sectors.
Fruition is an IT services company headquartered in Leeds, founded in 2008 by Sarah Pawson, a leader in the recruitment sector. Erisbeg’s investment will create opportunity for international and local expansion for its businesses Fruition IT and Fruition Consulting, leading brands in the IT recruitment and technology consultancy sectors.
As part of the investment, Fruition will join forces with Eolas, Erisbeg’s leading Irish IT recruitment company.
The Pinsent Masons team advising Erisbeg was led by corporate partner Andrew Kerr in Leeds and banking partner Ann Lalor in Dublin.
Commenting on the deal, Andrew Kerr said:
“We are pleased to have again advised Erisbeg on a significant UK acquisition, which builds on their existing portfolio in the recruitment sector. A full-service cross-border team from our Dublin and Leeds offices worked seamlessly together to deliver the transaction in a smooth and efficient manner for Erisbeg.”
In May of this year, Pinsent Masons advised Erisbeg on the acquisition of PageOne Communications from the Capita Group. PageOne is one of the UK’s leading mobile messaging companies providing critical alerting and messaging solutions to companies, including the NHS and emergency services.
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