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Management buy-out sees recruitment firm Brightwater under new ownership: VIDEO REPORT

Brightwater – one of Ireland’s best-known specialist recruitment firms – is under new ownership following a recapitalisation led by Barbara McGrath, (Managing Director), John O’Donnell (Finance Director), and Estelle Davis (Executive Search Director).  The deal was supported by Capital Step – a UK-based finance house active in Ireland – and financiers John Hannon and John Lacy.

Brightwater, which has offices in Dublin, Cork and Belfast, employs 95 people across the island and is celebrating its 20th year in business.  Brightwater has experienced strong growth in recent years and is now well placed to expand its major presence in the recruitment market in Ireland.

Managing Director, Barbara McGrath, said the new ownership team was looking forward to building on Brightwater’s strong position in the marketplace and its reputation for exemplary client service.  She also pointed towards the possibility of further expansion.

“Our business plan is based on measured growth and further talent acquisition.  It will be very much business as usual as we seek to support our clients throughout Ireland.  However, we will also be giving serious consideration to any discrete corporate activity that fits with the firm’s culture.”

Clearwater and RDJ advised the sellers in the transaction, while KPMG, Maples, and Sherwin O’Riordan advised the new ownership group.