Clearwater International advises Eolas Recruitment on its sale to Erisbeg

Clearwater International has advised Eolas Recruitment Limited (Eolas), Ireland’s leading specialist IT recruitment company, on its sale to the Irish private equity firm, Erisbeg. In conjunction with the acquisition, Eolas has announced the appointment of Jim Ryan as Managing Director, to succeed founder and Managing Director, Vincent Flynn. The company also announced the appointment of Senior Executives, Peter Kirby and Stephen Daly, to the board of directors. Stephen and Peter will retain their existing executive roles and responsibilities, continuing as new shareholders in the business.

Founded in 1999, Eolas has a longstanding blue-chip client base, across a wide spectrum of industries, including the financial, business services, consumer products, and payments sectors. The team has a combined knowledge spanning over 100 years, having successfully placed ambitious IT candidates in permanent and contract roles, for over 22 years.

Erisbeg is a leader in its field, focusing on investment in high performing service businesses, with international growth potential. The firm has investments in critical communications, healthcare, compliance, logistics, and recruitment sectors. Erisbeg is currently investing from its flagship €110m Erisbeg I LP fund, which is supported by leading European and Irish institutional investors, including AIB plc.

The investment is subject to approval from the Competition and Consumer Protection Commission (CCPC).