Investee Company Name: Gael Form Limited
Investment Amount: €4m
Reason for Investment: Growth capital
The Goodbody 2016 & 2017 EIIS Funds have invested €4m in Gael Form. The capital will support the continued scaling of the Irish and UK operations through funding for additional production capacity and building up stock levels.
Headquartered in a five acre specialist facility in Ashbourne, Co. Meath, Gael Form specialise in the supply, refurbishment and sale of quality new and used formwork (moulds into which concrete is poured during construction) and formwork accessories from its current bases in Ireland and the UK.
“It is an opportune time for the Goodbody EIIS Fund to support Gael Form who are intrinsically linked to the construction industry in Ireland and the UK, which is a sector which continues to see growth. Gael Form can capitalise on this upward trend with their extensive range of specialist products and services.” Stephen McGivern, Partner, Baker Tilly.
Collectively the management team have more than 40 years’ experience in the construction industry. They have successfully capitalised on the resurgence of construction activity in Ireland since the recession and by the purchase of used materials (at a fraction of their original cost) across Europe. The Company manufactures and re-sells new form work alongside its refurbishment business serving medium to large sized contractors operating in the engineering, construction and precast concrete industries.
Current growth has been achieved by targeting the most established formwork end-users in the Irish and UK markets, delivering on a strategy to source and supply equipment across product and service lines cheaper and quicker than their competitors. The business’ core focus is on customer service and efficient delivery across their considerable product range and services.