Development Capital invests €6m in IP Telecom

Irish development and growth capital fund manager Development Capital has invested €6 million in IP Telecom, a Dublin-based provider of unified communications and Voice over Internet Protocol (VoIP) telephone services to the Irish SME market.

Eversheds Sutherland advised Development Capital on the investment, while Philip Lee advised IP Telecom.

Development Capital has acquired a minority stake in IP Telecom through the deal and investment director Anthony O’Driscoll will join the company’s board.

The Eversheds Sutherland team advising Development Capital was led by corporate partner Enda Cullivan and included tax partner Rob Dever and competition partner Sean Ryan.

The team also included of counsel Aisling O’Hare in the intellectual property/data protection team; senior associates Jonathan Ennis in corporate, James Peters in banking and Andre Vermeulen in tax; and solicitors Aoife Ryan in corporate and Jack O’Connor and Conor Fynes in employment.

The Philip Lee team was led by corporate partner Eoghan Doyle and senior associate Hugo Grattirola.

ResultsCX acquires Zevas Communications

UK-headquartered ResultsCX has acquired Zevas Communications, a provider of B2B sales outsourcing, customer experience, CX and tech support outsourcing solutions in Europe and North America.

ByrneWallace LLP advised ResultsCX on the transaction.

ResultsCX is a global customer experience management leader which designs, builds and delivers digitally influenced customer journeys that achieve the satisfaction and loyalty brands need to grow, while improving efficiency and reducing costs.

The multi-disciplinary ByrneWallace team was led by corporate partner Eamonn Carey, with support from data protection/GDPR partner Zelda Deasy, technology partner Laura Greene, partner and technology head Victor Timon, partner and pensions head Liam Connellan and company secretarial head James Moreland.

The team also included of counsel John Campbell in the property team; senior associates John Crowe in banking and finance and Robert McDermott in litigation and dispute resolution; associates Emmet Connolly in corporate and Brian Murphy in employment; solicitors Julia Drennan in data protection/GDPR and Emily Harrington in technology; and senior company secretary Sophie Ryan in corporate.

Panelto Foods joins European Bakery Group

Panelto Foods, an Irish bakery group specialised in bake-off artisan breads, has joined the European Bakery Group, backed by 3i Group plc.

Matheson advised the shareholders of Panelto Foods on the transaction.

Panelto Foods has a leading position in the UK and Ireland across its key categories of bakery products. Based in Longford, the company benefits from state-of-the-art production facilities and has long-term relationships with key retailers in its markets, driven by its high-quality products, product innovation and market-leading service levels.

By joining European Bakery Group, together, it is expected that the businesses will reach new markets and capitalise on growth opportunities within Ireland, the UK and Europe.

The a cross-departmental Matheson team was led by corporate M&A partner Brian McCloskey.

Mr McCloskey said: “We were delighted to work with the Panelto Foods team and support them with this transaction. Panelto has a market-leading reputation and this transaction will provide a platform from which the team can accelerate the growth which they have experienced over a number of years.

“This transaction is yet another great example of the attractiveness of successful Irish businesses to international private equity funds and their portfolio companies.”

GlobalLogic acquires Sidero

Athlone-based software and cloud services company Sidero has been acquired by GlobalLogic, a Hitachi Group Company and leader in digital engineering.

RDJ LLP advised Sidero on the transaction, which bolsters GlobalLogic’s capabilities in the dynamic communications technology sector, and expands its European presence in Ireland.

Sidero was founded in 2013 and employs over 250 people in the Midlands and at another base in Newry. The company develops and manages software systems for large organisations, including government bodies, telcos, and financial services businesses.

Sidero’s expertise is in technologies such as radio access networks (RAN), self-optimising networks (SON), cloud, and agile computing.

The RDJ transaction team was led by Gillian Keating and included corporate and commercial lawyers Diarmaid Gavin, Conor Moran and Fernanda Camera, tax lawyer Mark Ludlow and employment lawyer Claire Macken.

Bauer Media Audio to acquire iRadio

Bauer Media Audio, Europe’s leading commercial radio and audio operator, has agreed to acquire iRadio.

Matheson is advising Bauer Media Audio on the transaction, which is subject to customary closing conditions and regulatory approvals.

iRadio is one of Ireland’s leading youth music brands, being the most listened to station in the 15 to 44 demographics across its 15 broadcast counties.

Bauer Media Audio entered Ireland in 2021 and owns brands including Today FM, Newstalk and SPIN. With this deal, Bauer Media Audio now reaches more than 61 million listeners across nine countries every week.

The Matheson team was led on the corporate M&A side by partner Rob Barrett and solicitors Dan McAleese and Rachel Hodgins, and on the competition and regulatory side by partner Niall Collins and senior associate Simon Shinkwin.

Mr Barrett said: “We are delighted to have again assisted Bauer Media Audio on a further strategic acquisition, as it continues its commitment to Ireland’s commercial radio sector. We look forward to continuing to work with the Bauer team to bring the transaction to a successful close and in the future.”