11 April 2022 – BHSL Group, the Limerick-headquartered environmental engineering and management group, led by Executive Chairman Denis Brosnan, has been advanced additional growth capital by European private debt house Beechbrook Capital. The follow-on capital will support the needs of the business following its successful acquisition of Glan Agua Group earlier this year and will support BHSL in achieving its ambitious plans in its various businesses.
BHSL is a multi-disciplinary environmental engineering and environmental management group of businesses. Its business units comprise Glan Agua Group, which is an award-winning group of businesses that provides project solutions for the water and wastewater industry. Based in both Ireland and the UK, it is an industry leader in the water and wastewater sector; BHSL Waste Solutions, the owner of patented fluidised bed combustion (FBC) technology which is capable of converting waste residues such as poultry manure, municipal sludge and waste by-products into heat and energy; Hydro International, acquired by BHSL Group in 2017, is a leading industrial wastewater treatment solutions provider, with a business that is directly complementary to Glan Agua’s expertise in municipal wastewater; and Glanway, acquired by BHSL in 2018, is a strategically located waste processing facility in Waterford Port licenced to process 230,000 tonnes of household waste annually.
Commenting on the financing partnership, Denis Brosnan said:
‘BHSL was the first company in Ireland supported by Beechbrook Capital, when we acquired a majority holding in the waste processing company Glanway at Waterford port in 2018. We have had a wonderful working relationship with both its Irish and UK directors and management from the outset and their continued financial support and advice in the acquisition of Glan Agua has been crucial in the BHSL growth story. We were lucky to have been introduced to Beechbrook’.
Commenting on the transaction, Beechbrook’s David Merriman said:
‘We have enjoyed an excellent relationship with BHSL Group since supporting the Group with its Glanway acquisition in 2018, and we are delighted to support the group on its next phase following its Glan Agua Group acquisition- we continue to enjoy an strong relationship with BHSL Group’s board and management team and look forward to working with them in the pursuit of their significantly broad and deep ambition for the Group in the coming years’.
BHSL was advised by Rob Adams & Hazel Slattery of Focus Capital and Lisa Killeen & George Kennedy of Holmes Solicitors. Beechbrook was advised by Cian Fenton, JP Gilmartin and Treasa Seoighe of Ronan Daly Jermyn Solicitors.
