Redfaire lands €13m

Redfaire, a Limerick-based enterprise resource planning and cloud services provider, has secured a €13 million minority investment from BGF. The funding will be used to back the company's international expansion, ongoing service development, and a targeted acquisition strategy.

According to Brian McInerney, CEO and co-founder of Redfaire, the investment is a strong endorsement of the company's work and will allow them to accelerate international expansion, further enhance their capabilities, and broaden their reach and expertise.

Company Background

Redfaire was founded in 2003 and supports customers as they modernise their ERP estates and adopt cloud and hybrid solutions. The business provides consulting, implementation, managed services, application support, and cloud services. Redfaire partners with a customer base of blue-chip global enterprises running complex, mission-critical systems, with operations across Ireland, the UK, mainland Europe, and North America.

Investment Details

BGF, a certified B Corp, has emerged as the most active equity investor in Ireland and the UK, dedicated to supporting good growth in entrepreneurial businesses. The firm has €250 million to invest in private SMEs across the country. BGF provides businesses with an initial investment of €4 million to €20 million in exchange for a minority shareholding, with the ability to deploy follow-on funding, plus scaleup support.

Leadership Changes

Alongside the funding, Redfaire is also announcing leadership changes, bringing in an outside leader to steer its growth. Glenn Timms is joining as Non-Executive Chair through the BGF Talent Network. Timms brings extensive executive and board experience across technology-enabled services and enterprise software, having previously served as CEO of IESA and Chair of NoBlue2, a cloud ERP consultancy.

MJ Murphy, Investor at BGF, said that Redfaire is exactly the kind of ambitious, founder-led business that BGF is proud to back, and that the management team's appetite for growth is clear to see. The real opportunity now is to further scale the business internationally, both organically and through acquisitions. BGF will support the team with capital, strategic guidance, and access to their value creation platform as they enter this next phase. Redfaire's new Non-Executive Chair, Glenn Timms, will play a key role in guiding the company's international scaling efforts.