ORS, the commercial property design group in which Erisbeg bought a majority stake last year, has bought Naas-based fire safety consultancy ProFire & Design.
Mullingar-headquartered ORS, which was established in 1991 and is currently led by managing director John Brennan, has expanded rapidly in recent years. In a statement on Wednesday, the group said its revenues have grown by 300 per cent since 2022 to €25 million annually as it eyes further expansion.
Terms of the deal were not disclosed.
The latest deal, its fourth since the private equity firm acquired a majority stake in the business in January 2023, further establishes ORS as one of the biggest fire safety and disability access consultancies in the Republic, it said.
Founded in 2001 by managing director Ray Cuddihy, ProFire is a consultancy business that helps construction firms navigate the complexities of fire safety building regulations. With tighter rules coming into force this year with the introduction of new building regulations, “there is significant potential to unlock additional opportunities in the fire safety consultancy market”, said Mr Cuddihy in a statement.
“With the upcoming changes to legislation, our enhanced capabilities are crucial for our clients and the construction industry as a whole”, said Mr Brennan, managing director of ORS. “The integration of ProFire’s expertise ensures that we can provide the highest level of comprehensive and innovative services, helping our clients navigate the new regulations effectively and maintain the highest standards of safety and compliance.”
Andrew Murphy, partner at Erisbeg, said the acquisition and its previous forays into the market align with the private equity firm’s focus on “innovation and delivering value to clients. He said: “The integration of ProFire’s expertise ensures that we can provide the highest level of comprehensive and innovative services, helping our clients navigate the new regulations effectively and maintain the highest standards of safety and compliance.”
Erisbeg was founded in 2017 by Alan Kerr and Thomas Davy, formerly of Blackstone and DCC respectively. The company has raised €110 million from various Irish and international institutional investors including AIB. The firm has invested in 24 business in the Republic since its foundation, including Eolas Recruitment, a specialist tech recruiter based in Bray, Co Wicklow, which it acquired for an undisclosed sum in late 2022.
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