About BDO Development Capital Fund
The BDO Development Capital Fund is a fund aimed at investing development and growth capital in established, mid-sized and profitable companies to support and accelerate their export growth plans.
BDO Development Capital Fund Headquarter Location
Beaux Lane House Mercer Street Lower
+353 1 470 0500
Latest BDO Development Capital Fund News
Mar 21, 2021
Tech Mahindra Paying €20m Upfront For Perigord 18 Mar 2021 | 09.38 am Tech Mahindra Paying €20m Upfront For Perigord More to come for Leamys in the earnout 18 Mar 2021 | 09.38 am Share Indian multinational Tech Mahindra has acquired control of Perigord Life Science Solutions from founders Alan Leamy (55) and Paul Leamy (58) and company investors. Perigord provides packaging, artwork and labelling services for the pharmaceutical industry. The company, which is active in Ireland, India and elsewhere, had turnover of €19.5m in 2020. Tech Mahindra is paying the selling shareholders €21m upfront for 70% of the Perigord equity. Them deal calls for a four-year earnout for the remaining 30% of the Perigord equity linked to financial performance. Tech Mahindra employs almost 125,000 people globally and is valued at $5 billion. As part of the deal, Perigord will take charge of Tech Mahindra’s design and packaging centre in Hyderabad, which will be integrated into Perigord’s global network. Perigord chief executive Alan Leamy (pictured) said: “We are looking forward to joining forces with the Tech Mahindra family as this partnership is the perfect mix of scale, technology, expertise and timing that will enable the company to continue our journey as the world’s leading provider in pharmaceutical labelling, artwork and workflow solutions. “Both companies’ future ambitions and desires to digitally transform the world of pharmaceutical packaging services will deliver long-term innovative solutions to our clients that will future proof their needs over the next ten years.” Perigord has a complicated corporate structure. Perigord Premedia Ltd was incorporated in 1997, with Paul Leamy becoming a director in 1999 and Alan Leamy becoming a director in 2002. Locarno Investments Ltd, the holding company for multiple Perigord operating companies, reported turnover of €13.8m in 2018. According to Tech Mahindra, revenue increased to €16.8m in 2019 and then €19.5m last year. Perigord’s expansion was fuelled with finance from the BDO Development Capital Fund, which invested €2.4m in February 2016. BDO followed on in 2017 with €3m in the form of convertible redeemable preference shares with a funding cost of 12% p.a. BDO was due to be paid back by June 2022. Perigord is the fifth exit for the BDO fund, achieving a “significant return” for the fund’s investors, according to BDO’s Sinéad Heaney. “The fund’s investment in Perigord is evidence of how the fund supports high calibre, ambitious, determined management teams by providing not only the funding to achieve their growth plans, but also actively supporting management teams post investment to assist them as they exploit and maximise their growth opportunities,” Heaney added.
BDO Development Capital Fund Team
1 Team Member
BDO Development Capital Fund has 1 team member, including current Managing Director, Sinead Heaney.