Freshstream today announces that it has agreed to make an investment in MCR Group, a rapidly growing outsourced services company based in Ireland.
MCR was founded in 1996 by Douglas Taylor who, together with co-shareholders and senior management, Kealan Turley and Donall Barrett, have grown the business to be a leading provider of cleaning, security, engineering and personnel services in Ireland. The company serves a diversified, longstanding client base across various sectors including commercial, pharmaceutical, construction, retail and public sector. The company is headquartered in Dublin with a workforce of more than 3,000 employees and will remain Irish based.
The business has demonstrated a strong track record of growth and profitability, underpinned by a distinct focus on quality and client service. This has been recognised by several industry awards such as the Irish Contract Cleaning Awards and the Green Awards. The company is planning to expand further across Ireland, including via acquisitions with Freshstream’s support.
Freshstream recently closed its fundraising for its first independent fund at €762 million. MCR marks the fifth investment in this fund and builds on Freshstream’s proven strategy of partnering with entrepreneurial and founder-led businesses. MCR follows recent investments in DeterTech, Bella Figura Music, Big Motoring World and Nafinco.
“The culture and leadership in the firm was a real attraction for us and there is very strong alignment with Freshstream and our core values.”
Kealan Turley, CEO of MCR Group, commented:
“We are thrilled to be teaming up with Freshstream and look forward to working together as we continue our ambitious growth strategy. Their expertise and investment will enable us to further accelerate our expansion plans, both organically and through acquisitions.”
Giuseppe Silvestri, Venture Partner at Freshstream, said:
“We are excited to support the MCR management team on the next step of their impressive growth trajectory. They have developed a business well regarded for its high standards of quality and entrepreneurial mindset, which is well-positioned to benefit from the positive market trends in the coming years.”
Tom Carroll, Director at Freshstream, said:
“We have been extremely impressed by MCR across all facets of the business. The culture and leadership in the firm was a real attraction for us and there is very strong alignment with Freshstream and our core values. We are delighted to have partnered with them and look forward to working with Kealan, Donall and the team.”
Kealan Turley and Donall Barrett, who joined the firm in 2000, will continue to lead the business with the support of their existing senior management team and Freshstream.