M&A Deal Summary

Cardinal Capital Group Acquires Ashdale Care

On August 26, 2021, private equity firm Cardinal Capital Group acquired healthcare services company Ashdale Care from MML Growth Capital Partners

Acquisition Highlights
  • This is Cardinal Capital Group’s 3rd transaction in the Healthcare Services sector.
  • This is Cardinal Capital Group’s 10th transaction in Ireland.

M&A Deal Summary

Date 2021-08-26
Target Ashdale Care
Sector Healthcare Services
Buyer(s) Cardinal Capital Group
Sellers(s) MML Growth Capital Partners
Deal Type Secondary Buyout

Target

Ashdale Care

Monaghan, Ireland
Ashdale Care provides specialist therapeutic residential services for young people with complex, emotional, and behavioural needs who cannot be adequately cared for in a mainstream setting. Ashdale Care was founded in 2001 and is based in Monaghan, Ireland.

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Buyer(S) 1

Buyer
DESCRIPTION

Cardinal Capital Group is an investment group principally focused on providing alternative financing solutions to small and mid-sized companies throughout Ireland. Cardinal Capital looks to invest €5 to €50 million per transaction and will consider direct investments as well as mezzanine financing commitments. Cardinal Capital Group was formed in 2003 and is based in Dublin.


DEAL STATS #
Overall 12 of 13
Sector (Healthcare Services) 3 of 3
Type (Secondary Buyout) 2 of 3
Country (Ireland) 10 of 11
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-01 Sim Local

Dundrum, Ireland

Sim Local is a provider of SIM card and eSIM retail. Sim Local business caters to global travellers so they can stay connected and avoid expensive roaming charges. Sim Local sells local SIM cards and eSIM Profiles direct to customers through our Sim Local retail stores, kiosks, vending machines, mobile app, and eShop. Sim Local was founded in 2011 and is based in Dundrum, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-29 City Bin

Galway, Ireland

City Bin is a waste collection company engaged in providing waste management and recycling services. City Bin was founded in 1997 and is based in Galway, Ireland.

Sell -

Seller(S) 1

SELLER

MML Growth Capital Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2013
PE ASSETS 270M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

MML Growth Capital is an investment group focused on providing growth capital to support expansions, acquisitions, shareholder liquidity needs, and buyouts throughout Ireland. The Firm looks to commit €2 to €20 million per transaction. MML Growth Capital was established in 2013 and is headquartered in Dublin.


DEAL STATS #
Overall 2 of 4
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (Ireland) 2 of 4
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-23 SONAS Bathrooms

Dublin , Ireland

SONAS Bathrooms is a provider of quality bathroom products, selling through a network of trade resellers throughout the country, including most retail bathroom showrooms and builders’ merchants. SONAS Bathrooms was founded in 1978 and is based in Dublin, Ireland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Cruinn

Dublin, Ireland

Cruinn is an independent distributor of laboratory diagnostics, instrumentation, consumables, and related equipment. The company focuses on supplying to all laboratory market segments in Ireland including Hospitals, Pharmaceutical Industry, Universities, and Independent Testing Laboratories. Its products and services have expanded greatly over the years to achieve maximum market penetration. The core business is in the Clinical Hospital Market and covers all primary Laboratory disciplines, Clinical Chemistry, Microbiology, Immunology, Haematology, and Cellular Pathology. Cruinn was formed in 1998 and is based in Dublin, Ireland.

Buy -