DC Advisory advises the founders of VIOTAS on the management buyout of Bord na Mona’s 50% stake

Background

• Based in Limerick, VIOTAS is a leading smart grid and demand response technology provider
• VIOTAS leverages its smart grid technology to help large electricity consumers manage their consumption, creating virtual power plants for excess power to be traded in the electricity market 
• Bord na Mona, a semi-state climate solutions company, invested in a 50% stake in VIOTAS in 2016

Process

• DC Advisory was engaged by the founders of VIOTAS to act as their exclusive financial advisor, providing financial and strategic advice on its management buyout
• DC Advisory worked closely with the founders to assess the best approach on structuring and executing the transaction
• DC Advisory used their process management expertise and knowledge of the energy services sector to ensure maximum value for the founders as the business embarks on the next stage of its growth plan

Outcome

• In December 2023, VIOTAS’ founders, Paddy Finn and Duncan O’Toole, partnered with Goodbody Capital Partners to successfully execute a management buyout of Bord na Móna’s 50% stake in the business and provide growth capital to support the expansion plans of the business over the coming years, both in Ireland and internationally
• This transaction further showcases DC Advisory’s expertise in the Business Services sector

“Our management buyout journey of a semi state shareholder gave rise to complex challenges and a lengthy process. Negotiations with the sellers and financiers evolved through multiple incarnations. Eoin, Laurence, and the DC Advisory team supported us at every step, from shaping the deal to maximise our outcome, to coordinating the stakeholders through to completion. We are very grateful to the DC Advisory team for their relentless effort, which was key to the great outcome we achieved.”

“We are delighted to have advised the founders on this successful outcome. It was a pleasure to work alongside Paddy and Duncan, and we are excited for the group as the company is well-positioned for future success”