The founders of Simtech Holdings, Ireland’s leading aviation training and flight simulation business have sold a stake in their business to Renatus Capital Partners and Martello Group a specialist aviation, leisure and real estate group
Simtech is a specialist provider of flight simulation and pilot training services and was founded by Sé Pardy and Fergal Keogh, in 2004. Simtech operate from their own state of the art, high-spec, custom-built facility in the Airport Logistics park next to Dublin Airport. It has developed an outstanding reputation for training and is used by a number of the major airlines including Aer Lingus, in addition to training pilots from Ireland, the UK, Europe, the Middle East and Asia. The two co-founders will be joined on the board by Renatus Partners’ Brendan Traynor and Mark Flood and seasoned airline executives Douglas Brennan and Eugene O’Reilly.
Aviation training and pilot recruitment executive, Declan Dooney will take over from Fergal Keogh as CEO of Simtech following the investment.
With the financial strength and expertise of its new investors, Simtech is well positioned to leverage the strong trends in the aviation industry and Ireland’s continued reputation as a global aviation hub to expand the business significantly and establish the business as an Irish based world-class aviation training destination business. The growth plans will lead to considerable future growth in staff and employment numbers in the business in the training and engineering departments.
Fergal Keogh said “this is an exciting opportunity to take the business we founded to a new level. Sé was not ready to step back from the business and I needed a retirement and succession plan. We both wanted to ensure the business we had built was preserved and that any incoming partner would bring the necessary industry expertise and capital to scale the business and realise its full potential. I could not have found a better succession plan than this.”
Additional financing for the deal was provided by AIB Corporate Banking. Feargal Brennan and Laura Greene of Byrne Wallace provided the legal advice to the investors in relation to the transaction and BDO Tax partner John Gilmore-Gavin advised on the taxation aspects of the deal.
Corporate finance house Pegasus Capital, led by Donal O’Connell advised the company on the investment and were instrumental in bringing all the parties together. Cillian Balfe of Whitney Moore advised Simtech on the legal aspects of the investment.