High-tech Limerick company lands multi-million euro boost

TECHNOLOGY firm Redfaire, which has its global headquarters in Limerick city centre, has announced a €13m investment.

Redfaire, which employs around 70 people at its offices in Hartstonge Street, has revealed that it has received the multi-million euro investment from growth capital investor BGF.

It’s intended this investment will power the firm’s next phase of growth.

This is expected to feature international expansion, development of its business management software practice, and acquisitions of other companies to broaden its geographic reach.

Founded in 2003, Redfaire helps large businesses run computer systems.

It works with customers in Ireland and around the world, providing advice, software and ongoing support.

The investment follows Redfaire’s recent acquisition of eKal Solutions, a British-based consultancy, which adds established Fusion capability across human capital management, enterprise performance management, financials and supply chain management.

Brian McInerney, chief executive and co-founder of Redfaire, said: “We built Redfaire by staying close to our customers and taking on the most complex challenges in the Oracle ecosystem. BGF's investment is a strong endorsement of that work and of the team behind it.

“Their backing allows us to accelerate international expansion, further enhance our Oracle Fusion capabilities, and broaden our reach and expertise. BGF is a partner that shares our long-term, growth-focused mindset, and we look forward to delivering for our customers and our people.”

BGF investor MJ Murphy added: “Redfaire is exactly the kind of ambitious, founder-led business that BGF is proud to back. From its base in Limerick, the team has built a genuinely differentiated Oracle practice, earning the trust of some of the world’s largest enterprises through deep technical expertise and long-term client relationships.

“The management team's appetite for growth is clear to see, and the real opportunity now is to further scale the business internationally, both organically and through acquisitions. We look forward to supporting the team with capital, strategic guidance and access to our value creation platform as they enter this next phase.”

As part of the transaction, Redfaire is appointing Glenn Timms as  its non-executive chair.

The firm says he brings extensive executive and board experience across technology-enabled services and enterprise software.

“Redfaire has built genuine technical depth and an international delivery network that very few independent Oracle partners can claim, providing a strong platform to build from. With BGF's backing and a management team that has already proven it can grow organically and through acquisition, the opportunity is to scale that model even further. I look forward to working with the team to help them achieve their growth ambitions,” said Mr Timms.

Hartstonge Street based Redfaire was advised by Michael Hussey, Jack Barry and Aoife Kenny of Pegasus Capital, Eoghan Doyle, Edon Byrnes, Alan Connell, Kevin Keenan, Deidre Brannigan, Zoe Dunne and Elizabeth Keyes of Philip Lee, Jack Swinburne, Sterling Hintze and Peter Lane of Lansdown Corporate Finance and Paul Mee, Pat Magner and Emma Collins of Forvis Mazars.

Growth capital investor BGF was advised by Doreen Mescal and Elaine Guckian of Addleshaw Goddard, Mark Mulcahy and Anthony Shiel of Forvis Mazars, Stephen Keohane and Sinead White of KPMG, Phil Craig and James Balgarnie of GCS Insights, and Dominic Bridgman of Sales Enginuity.