- Virginia expects revenues of approximately €40 million in the year to 31 December 2022
- The company plans to grow both organically and via M&A
- The business services the food and beverage, industrial, manufacturing and pharmaceutical markets
MML Ireland announced that it has made a growth investment in Irish logistics company Virginia International Logistics. MML Ireland has invested in the business alongside existing family shareholders including managing director, Ray Cole.
Virginia was established in 1982 in Virginia, Ireland, where the company remains headquartered. It services the food and beverage, industrial, manufacturing and pharmaceutical markets. The company employs approximately 200 people and expects to see revenues of approximately €40 million in the year to 31 December 2022.
“The business has developed a strong reputation in an evolving and growing market and we are very excited about the plans to scale the business into the future,” said Stephen Minogue, investment director at MML Ireland.
“Given international delivery trends, the logistics sector continues to expand in terms of expertise and capacity, which creates market opportunities for well positioned and invested businesses,” said Ray Cole, managing director of Virginia. “I look forward to working with MML Ireland on our expansion plans. We are all ambitious for the company and intend to grow both organically and by acquisition.”
MML Ireland is a private equity firm headquartered in Dublin that invests in Irish SMEs. It has €270 million in assets under management and has invested in 18 companies.