Causeway private equity fund completes four transactions in 2018

Causeway Capital Partners, an Irish private equity fund for Irish and British SMEs set up in 2016, has deployed more than half its €60 million fund across five investments – the businesses Bizimply, Celtic Linen, Turmec, InTheStyle.com and Bakers + Baristas (BBs) – it said in an end-of-year update.

The fund completed four transactions in 2018, including new investments in the UK-headquartered fast-fashion brand InTheStyle.com and Irish specialist waste processing equipment designer and manufacturer Turmec, for which it provided €4 million in finance to a management buyout led by chief executive Brian Thornton.

Further investments

It also made further investments in BBs and Celtic Linen, financing the former’s buyout of 11 UK-based Love Coffee stores from DJ&C Foods.

The fund backed Celtic Linen’s acquisition of Naas-based Millbrook Linen in February. The Naas facility now operates alongside Celtic’s existing one in Wexford and has increased headcount for the combined group to more than 300 full-time equivalent roles.