Bank of Ireland has appointed Peter Mullen as head of its acquisitions finance team, following the departure of the previous incumbent, David Walsh, to join London-based private equity firm Bridgepoint.
Mr Mullen, who joined the bank 11 years ago from French banking giant Société Générale, is taking charge of a €4.4 billion loan book, spanning junior and senior debt. The unit has been in existence for more than two decades and has offices in Dublin, the UK and US. It funds management buyouts, deals where publicly quoted companies are taken private and other leveraged transactions across a variety of industries.
"Our commitment to the European and US mid-market leveraged market has remained strong in recent years," said Tom Hayes, chief executive of Bank of Ireland Corporate Banking.
Bank of Ireland has led the arrangement and brought in other banks to part-fund 15 deals so far this year across Europe and the US, according to the company.
These include: the €216 million refinancing of a German frozen foods company Hoffman Menu, which was subject of a management takeover in 2013; US private equity firm Olympus Partner's $307.5 million ($347 million) acquisition of Petmate, a supplier of pet products; and Paris-based Astorg Private Equity's £168 million (€192 million) purchase of sound equipment firm Audiotonix.
Bridgepoint’s move to poach Mr Walsh last month comes as the company considers moving into the area of providing debt in addition to its current private equity business. Bridgepoint has been an active customer of Bank of Ireland’s leveraged acquisition finance business in recent years.
