The below article is taken from the Derry Journal.
In October this year, Caldwell & Robinson Solicitors, in association with Clarendon Fund Managers and the British Business Bank, hosted a successful event in Derry focused on the potential of private equity to support the growth of small and medium-sized enterprises in Northern Ireland.
The event brought together key figures from the corporate sector, including Hugh Cormican, CEO of Cirdan, and Paul McElvaney, Founder of Learning Pool, as well as other local business leaders from the northwest. Attendees were given the opportunity to hear first-hand experiences from the speakers, who openly discussed the challenges and rewards of going through investment rounds.
Hugh Cormican, an experienced entrepreneur and former co-founder and CEO of Andor Technology, as well as founding member and current CEO of Cirdan, offered guests practical advice on securing investment. He encouraged business owners to seek guidance from those who have firsthand experience.
Paul McElvaney, founder and CEO of Learning Pool, emphasised the significant growth opportunities that investment can provide. He noted that the company’s current revenue of approximately £55 million might have been far less without the decision to embrace private equity.
Mark Sterritt, the British Business Bank’s Director Nations and Regions Investment Funds, provided an update on the Investment Fund for Northern Ireland, highlighting its ongoing support for local businesses looking to scale.
He said: “With two different commercial finance options of loans ranging from £25,000 to £2 million and equity investments up to £5 million, the fund has got off to as great start right across Northern Ireland since it launched last November. In Northern Ireland smaller businesses often lean towards more traditional forms of finance and by overlooking options such as equity finance, they may not always fulfil their potential. Hearing from successful founders like Paul and Hugh on how equity finance helped their businesses grow is extremely important as we seek to raise awareness of the benefits of this form of finance for local companies.
“There are more investors looking at Northern Ireland than ever before and with the fund bolstering this support, equity investment could be the right option for a number of businesses seeking to take the next step on their growth journey.”
Brian Cummings, Investment Director at Clarendon Fund Managers commented “We are committed to engaging with the business community in the northwest and this event allowed us to meet with the very businesses who could potentially flourish from equity investment from the Investment Fund for Northern Ireland.”
Philip Gilliland, Managing Partner of Caldwell & Robinson Solicitors and host for the evening, commented: “We are incredibly grateful to our speakers, who shared such candid insights. Their stories offered valuable perspectives for businesses considering private equity as a growth strategy”.
“Traditionally there has been a hesitancy in the northwest to embrace investment compared to other parts of Ireland the UK. The level of engagement from the audience was fantastic, it was clear that this topic resonated with everyone in the room.”
The event, held at the CCA, concluded with a networking session over refreshments, where attendees had the chance to continue the conversation. Caldwell & Robinson announced plans for another event in the spring, building on the success of this gathering.
