Mergon Group announces major investment

by Paul Fanning

Mergon Group, the provider of innovative plastic moulding solutions to the automotive, healthcare & industrial sectors, has announced that Elysian has acquired a majority stake in the company, with the Beirne family continuing to retain substantial minority ownership. The investment will allow Mergon to embark on a new growth phase with an ambitious target to grow its business by 50% in the next three years. Led by current CEO, Pat Beirne, and the existing management team, Mergon will accelerate its international expansion, building on its offering in China in particular, and diversify into new products.

Mergon was founded in 1981 in Castlepollard, Co Westmeath, as a plastics moulding business. Over nearly forty years, it has grown to become a global specialist provider of technical services, systems and components to leading brands in the automotive, industrial and healthcare sectors. The company opened in South Carolina, USA in 1998 and subsequently in the Czech Republic in 2004. Today Mergon Group employs over 660 people across its three sites.

Elysian Capital is a well-established UK-based private equity firm, investing in entrepreneurial management teams throughout the UK and Ireland. It has a long track record of successfully helping grow companies it invests in, organically and through selective acquisitions, including Fastflow, a utilities and property services business, acquired in 2017 with management, and Raymond Brown Minerals and Recycling Limited, an aggregates and recycling business, and The Pebble Group, a world leading designer and supplier of promotional products to major companies in Europe and the USA. Pebble Group was listed on the London Stock Exchange in December 2019.

Commenting on the deal, Pat Beirne CEO Mergon Group said: “We are delighted to announce this deal, which will provide Mergon with the funds and expertise to continue to grow the business and expand into new markets, in particular in China, where we see huge opportunities. We were attracted to the entrepreneurial culture of the team at Elysian and their success at helping companies like ours to grow. We are targeting growth of 50% in the next three years and look forward to creating an exciting future for Mergon, our employees and our partners”

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