Growth-focused private equity firm Phoenix Equity Partners (Phoenix) has made an investment in Nostra Technologies (Nostra), a managed IT services provider in Ireland, alongside founders Kevin O’Loughlin and Barry O’Loughlin.
The deal marks Phoenix’s third investment of 2023.
Nostra provides a comprehensive range of managed IT services including cybersecurity and cloud infrastructure to over 700 small and medium-sized companies across both the private and public sectors in Ireland.
Phoenix’s investment will support further acquisitions as well as the development of Nostra’s operating platform and service offering.
Phoenix was advised by Clearwater International (corporate finance & debt advisory), Addleshaw Goddard (legal), OC&C (commercial due diligence) and EY (financial & tax due diligence). Nostra was advised by EY (corporate finance, financial & tax due diligence) and McCann Fitzgerald (legal). Debt financing for the transaction was provided by Ares who were advised by Proskauer (legal).