Erisbeg acquires Eolas Recruitment

Posted: 1 Dec 2022

Erisbeg acquires Eolas Recruitment

Dublin, Ireland 28 November 2022

Irish private equity firm Erisbeg has today agreed to acquire a majority stake in Leading Specialist IT
Recruiter Eolas Recruitment Limited (‘Eolas Recruitment’) from its shareholders. The consideration
for the transaction was not disclosed. The transaction is subject to approval from the Competition
and Consumer Protection Commission.

In conjunction with the acquisition, Eolas Recruitment has announced the appointment of Jim Ryan
as Managing Director to succeed founder and Managing Director Vincent Flynn. Eolas Recruitment
has also announced the appointment of senior executives Peter Kirby and Stephen Daly to the Eolas
Recruitment board of directors. Stephen and Peter will retain their existing executive roles and

Commenting on the announcement, Vincent Flynn, Eolas Recruitment founder and Managing
Director said, “My wife Mary & I started Eolas Recruitment in 1999 with a vision to create Ireland’s
Leading Specialist IT Recruitment Firm, we are very proud of what we have achieved in that time,
with the support of our talented and hard-working employees, our wonderful clients, all of the
Specialist IT consultants, and the goodwill of the entire business community who have supported our
journey over the past 23 years. We feel that Erisbeg are the right partner for Eolas Recruitment at
the right time, and I am delighted that the business is in safe hands now for the next stage of its
growth and development.”

Thomas Davy, Erisbeg Partner said “Today is a very exciting day for us at Erisbeg. Eolas Recruitment
is a terrific and highly respected firm, that has wonderful employees, a highly talented roster of
consultants available to it and an unrivalled blue chip client base. We are looking forward to
supporting the Eolas Recruitment management team and their growth strategy for the business. We
welcome Jim Ryan, Stephen Daly and Peter Kirby to the Eolas Recruitment board of directors and
look forward to working closely with them as we build on the strong foundations put in place by
Vincent and Mary Flynn.”

About Erisbeg

Erisbeg is a leading Irish private equity firm, focused on investment in high performing service
businesses with international growth potential. Erisbeg has current investments in Critical
Communications, Healthcare, Compliance, Logistics and Recruitment sectors, and is currently
investing from its flagship fund Erisbeg I LP, a €110m fund supported by leading European and Irish
institutional investors, including AIB plc.

About Eolas

Founded in 1999, Eolas Recruitment is Ireland’s leading specialist IT Recruitment Company. Eolas
Recruitment is a trusted counterparty to its longstanding and blue-chip client base across a wide
spectrum of sectors including the financial, business services, consumer products and payments
sectors. The team is made up of the smartest minds in IT recruitment, with a combined knowledge
spanning over 100 years in this arena. Eolas Recruitment has been successfully placing ambitious IT
candidates across many sectors for over 22 years, sharing their knowledge and experience in order
to help its candidates achieve the perfect role. Eolas Recruitment specialises in Recruitment in both
the Permanent and Contract IT Sector across all sectors of business.

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