Waterland Ireland agreed to acquire a stake in cross-Border electrical wholesaler Bellew Electrical, its fifth major investment in a company on the island since its arrival here in 2019Laura Dillon, a partner with Dutch private equity group Waterland and head of its Irish unit, has been chosen asWaterland Ireland agreed to acquire a stake in cross-Border electrical wholesaler Bellew Electrical during the month, marking its fifth big investment in a company on the island since its arrival here...
Bellew Electrical Wholesale, headquartered in Crossmaglen, Co Armagh, has three other outlets – in Drogheda and Dundalk, Co Louth; and Castleblayney, Co Monaghan – selling electrical goods wholesale to the construction industry. It generated revenues of more than €30 million in the 12 months to the end of July 2022, with profits topping €3.1 million after tax.
“It’s a very fragmented market where there’s a lot of great independent electrical wholesalers working all across the country that are quite geographically focused,” Ms Dillon said. Growth will be driven both organically – through Bellew’s new distribution centre – but “also hopefully through partnerships with other electrical wholesalers”, she added.
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