Dutch private equity group Waterland is to invest a further €150 million here over the next year and a half as it looks to add to its growing portfolio of Irish companies.
At a time when the wider industry is reportedly pulling back on new investments and fundraises, the group’s Irish arm signalled on Friday that it plans to “dramatically” ramp up its expansion plans in the Republic.
Waterland Ireland, which said it now has combined revenues of €600 million across its Irish portfolio, will invest an additional €150 million in new platform companies as well as add-on acquisitions for existing portfolio companies.
The €150 million is understood to come from existing funds that have already been raised.
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Waterland Ireland has invested in five so-called platform companies here since 2019, including Meath-based data centre cable specialist MTM Engineering, NetZero Group – formed through the Waterland-backed merger of two green heating and plumbing companies in 2023 – and the Silver Stream Healthcare nursing home group.
The group, which focuses largely on mid-sized companies, has then added smaller, complementary businesses to those platforms through acquisition.
Most recently, the competition watchdog cleared Waterland’s bid to buy Hometherm Insulation Ltd in Kells, Co Meath, in March. If the deal goes ahead, it would position Waterland to benefit from accelerated State spending to retrofit 500,000 homes with insulation, heat pumps and other equipment by 2030 to hit climate action targets.
“We see immense potential in the Irish market and are dedicated to supporting companies with strong growth ambitions,” said Laura Dillon, partner at Waterland Ireland.
“This commitment reinforces our belief in the strength and innovation of Irish businesses. We are excited to partner with entrepreneurs and management teams to help them scale and achieve their international growth aspirations.”
The announcement comes against a backdrop of slower deal-making and fundraising across the private equity industry.
The Financial Times reported in April that US president Donald Trump’s tariffs are forcing private equity groups to pause their deal-making and focus on managing their existing portfolio companies, in a stark reversal of earlier expectations for a boom in activity under the new administration.
