Key Contacts: Andrew Tzialli – Partner | Edon Byrnes – Partner | Hugo Grattirola – Partner | Simon O’Neill – Partner | Tom Conway – Partner | Alan Connell – Partner | Anne Bateman – Partner | Ronan Dunne – Partner | Bláthnaid Evans – Partner | Olivia Creaven – Senior Associate |
What does it take to build a business that attracts one of Ireland’s largest ever corporate acquisitions?
Reflecting on Kingspan’s acquisition of BMC Manufacturing Ireland, lead partner Andrew Tzialli commented:
“As the dust has started to settle following the announcement of the sale of BMC to Kingspan for a deal value that could reach €900m, reflections on the deal are inevitable given its size and significance. To have been lead partner on the legal aspects of the biggest ever sale of a private Irish company to an Irish buyer was a privilege. Coupled with other sizeable transactions recently advised on by the M&A team at Philip Lee LLP, including Power Capital Renewable Energy on its strategic equity partnership transaction with Omnes and Infranity, acting for Bureau Veritas S.A. on its strategic acquisition of Lotusworks and advising Premier Lotteries Ireland DAC, the licensed operator of the Irish National Lottery, this deal further cements our position as one of the leading legal advisors in the Irish M&A market.”
When I look back at an M&A career of close to 20 years, there are certainly trends in the companies involved in the biggest deals we’ve advised on, no more so than those we’ve seen whilst advising the wonderful team at BMC.
The most successful businesses I’ve worked with share one thing: an obsession with being the best at what they do. At BMC, that mindset clearly starts with the founders and management and permeates through the entire organisation. Their products and service levels are genuinely best in class and that doesn’t happen by accident. A significant part of how they’ve achieved it is by truly looking after and valuing their people. When staff feel valued, they deliver. It’s that simple, and BMC is proof of it.
Building a business over 35+ years means navigating recessions, market shifts and countless moments of uncertainty. Turbulence is inevitable but steering a sizeable ship through difficult waters and coming out bigger, stronger and better on the other side is a unique trait. The commitment of the management team at BMC to being the best, year after year, through every cycle, is something that clearly resonated with a buyer like Kingspan.
Selling a business of this scale is intense. It would be entirely understandable to see business owners buckling from the extreme pressures that come with a transaction like this. But all of those at the top of the BMC pyramid and indeed other successful business owners we’ve worked with on exits, consistently displayed a real sense of calm, decorum and clear thinking, regardless of the pressures they faced. That composure is not a coincidence; it reflects the quality of the people and the strength of the business they built.
Congratulations again to the entire BMC team on a landmark deal. They were a pleasure to work with, and it was a genuine pleasure to be part of the deal.”
Reflecting on the successful sale of BMC Manufacturing, Brendan Meehan, Founder of BMC Manufacturing, commented:
“Selling a business like BMC is a process that should never be underestimated. Having Philip Lee on our team made it almost enjoyable.”
Watch the video below for highlights of the deal and hear more from Andrew Tzialli on the leadership, resilience and commitment behind one of Ireland’s most significant M&A transactions.
