The management team of Moritz Trading Limited has acquired the company in a management buy-out transaction from Moritz Holdings Limited for an undisclosed consideration.
The transaction was led by Managing Director, Sean Moran, together with Operations Director, Denis O’Connor, and Finance Director, John Joyce. Post-acquisition, Moritz Trading will be operated under a new name, Home Project Centre Limited, while the eight outlets owned will continue to operate under their existing trading names. The acquisition and subsequent recapitalization of the business was financed by a combination of investment by the management team and funding provided by Close Brothers Commercial Finance.
Moritz Holdings Limited operates as a residential and commercial developer in Ireland and internationally. Its property portfolio includes a housing scheme, commercial investments, and retail and office developments. The company also supplies heating and plumbing, timber, DIY, garden, and building products for builders' providers and DIY/home improvement markets.
Oaklins' team in Ireland advised the management team in this transaction.
© 2019 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.