Intact raises €17m for US expansion from Goodbody

Business management software specialist Intact plans to expand in the US after raising €17 million from AIB through a partnership with Goodbody Capital Partners.

Dundalk-based Intact develops software that allows businesses to manage finance, stock, customer relationships, sales and other key areas. It has operations in the Republic, UK and US.

Goodbody Capital Partners confirmed at the weekend that it joined forces with the Co Louth business to raise €17 million from AIB, with which Intact has a long-standing relationship.

The software company will use the cash to accelerate its expansion in the US and enhance its Intact iQ product.

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Justin Lawless, chief executive, welcomed the news. “We’re excited to work with Goodbody Capital Partners to fast-track our growth plans in Ireland, the UK and on the international stage,” he said.

[ Venture capital investment in Irish companies declined by a third in 2023 ]

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Finlay McFadyen, head of Goodbody Capital Partners, dubbed Intact a “true” market leader.

“We look forward to partnering with Justin and the wider team to support their next phase of growth,” he added.

Founded by Aidan Lawless and Paul Marry in 1992, Intact focuses on developing software for businesses that have to manage big inventories.

The company developed its reputation through working with the building materials distribution industries in the Republic and UK.

Justin Lawless took the helm in 2013, two years after Intact launched its flagship product, Intact iQ. It employs 300 people in offices across the Republic, UK and US.