Industry & Business

Private equity fund Carlyle Cardinal eyes Mater Private

 Breaking News
  • Greencore to Divest US Business in $1 Billion Deal Greencore Group, the Irish and UK convenience food business, has agreed to sell its entire US business to an affiliate of Hearthside Food Solutions for US$1.075 billion (£817 million) on a cash and debt-free basis. Hearthside is a major US contract food manufacturer with a heritage in US food industry outsourcing. The disposal will leave [...]...
  • Research and Innovation Critical to Business Success Post Brexit The Managing Director of the Industry Research and Development Group (IRDG) says increased investment in research and innovation by both the business sector and the State is critical in order for Irish businesses to survive the hard hitting impact of Brexit. Denis Hayes says despite budget 2019 proposals State expenditure on research and innovation will [...]...
  • Irish Distillers to Invest €150 Million in Sites in Cork and Dublin Irish Distillers has announced investment of over €150 million in its sites in Cork and Dublin to meet demand for its products as the Irish whiskey renaissance continues apace. This is accelerated by the continued growth of the company’s flagship Jameson brand, which is now in double or triple-digit growth in more than 80 markets [...]...
  • CM Precision Components Opens New Purpose-built Factory in Downpatrick Downpatrick-based CM Precision Components Ltd has officially opened its new 16,000 sq ft manufacturing facility at Invest Northern Ireland’s Killough Road Industrial Estate. The advanced engineering firm has invested almost £1 million in the construction project, to expand its production capabilities and meet the growing demands of its customers. CM Precision Components produces precision machined components for [...]...
  • Arkphire Secures New Investment IT solutions and networking company, Arkphire, has announced that Bregal Milestone, a private capital firm, has completed an investment into the business. The investment by Bregal Milestone comes from their new €400 million pan-European fund dedicated to investing in high-growth European companies. Typical commitments from Bregal Milestone range from €20 million to €60 million. Arkphire provides [...]...

Private equity fund Carlyle Cardinal eyes Mater Private

Private equity fund Carlyle Cardinal eyes Mater Private
March 21
11:24 2016

According to the Irish Times the Irish-American private equity fund Carlyle Cardinal is among the bidders shortlisted to acquire the Mater Private hospital group.

The Irish Times has learned that Carlyle Cardinal is one of four or five groups shortlisted to bid for the Dublin-based healthcare provider, which is expected to be valued at about €500 million.

Carlyle Cardinal faces opposition from AMP Capital, an Australian investment group with more than €100 billion of assets under management, and Macquarie, an Australian investment bank.

The sale process for the Mater, which has annual revenues of about €200 million, was kicked off last September by its majority shareholder CapVest, a London-based venture capital company led by Irishman Séamus Fitzpatrick.

CapVest acquired a stake of just more than 50 per cent in the Mater Private in 2007 in a deal reported at the time to value the group at €350 million. The balance of the shares are owned by management and staff. In 2014, the Sunday Times revealed that CapVest had proposed a merger with its rival the Hermitage Medical Clinic in west Dublin to create a “major new force in Irish private healthcare”. This plan failed to gain support.
Equity investments

The Carlyle Cardinal Ireland Fund is a joint venture between US investment firm the Carlyle Group and Dublin-based Cardinal Capital Group. It makes buyout and growth equity investments in mid-sized companies across a variety of sectors in Ireland, with equity investments ranging from €5 million to €50 million.
Since the beginning of 2014, its investments have included electronic payments group Payzone, meats company Carroll Cuisine, Lily O’Brien’s chocolates and Abtran, the call centre operator. It has also been linked with a bid for AA Ireland, the motor services group and insurance provider, which is being made available for sale by its UK parent.

No comment was available from either Carlyle Cardinal or the Mater Private.

Originally founded by the Sisters of Mercy at Eccles Street on the north side of Dublin, the modern-day Mater Private opened in 1986. It has capacity for 202 beds and seven operating theatres, with about 190 consultants and more than 800 staff. The hospital opened a new emergency department in 2015 offering a walk-in service, and is considered a centre of excellence for cardiac- and cancer-related procedures.

In 2012, the group acquired Cork Medical and it also operates treatment centres or clinics in Co Cork, Limerick, Liverpool, Drogheda, Navan and Sligo

About Author

admin

admin

Related Articles

New Subscriber





Subscribe Here



Advertisements



















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4