“We are delighted to receive this investment from MML Ireland. I look forward to working with MML Ireland on our future expansion plans. With its experience of working with ambitious and focused management teams, MML Ireland is the perfect partner for the next stage of our journey. This investment will give Cruinn the additional financial support to expand in its target markets.”

Jack Nolan, MD, Cruinn Diagnostics

Cruinn Diagnostics

cruinndiagnostics.ie
Reorganisation of the shareholder base, facilitating a full exit for retiring shareholders and a partial divestment for the rolling management shareholders. Created an equity pot for senior management.

The business

Cruinn Diagnostics is a distributor of clinical laboratory diagnostic equipment and consumables to hospitals and independent testing laboratories.

The deal

Over the last 20 years, Cruinn Diagnostics has grown to be a leading independent distributor of medical diagnostic consumables and capital equipment to laboratories across Ireland. The company has longstanding relationships with leading blue-chip diagnostic suppliers and sells to a blue-chip customer base. Cruinn was looking for a partner to support its organic expansion plans into new diagnostics areas and through acquisition. MML Ireland invested alongside MD Jack Nolan, Clinical Sales Director, Vinny Foley and Technical Director, Peter Hussey - who all reinvested materially - and created a significant equity pot for the wider management team. The deal completed in January 2022 and MML Ireland is excited to support an ambitious expansion plan.

Fund
MML Ireland Fund II
Region
Republic of Ireland
Deal Status
Current
Sector
Healthcare

Related news

MML Ireland invests in Cruinn Diagnostics Limited
MML Ireland's capital investment will support the company's ambitious growth plans.

Associated deal team

Neil McGowan

Partner and Co-Head of Investments

Stephen Minogue

Investment Director

Kevin Nyhan

Investment Analyst

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For investors in MML Ireland Fund I, MML Ireland Fund II & MML Fund VI

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