The BDO Development Capital Fund has announced its exit from Irish pharma labeller Perigord Asset Holdings after Indian multinational Tech Mahindra took a majority stake in the group in a multi-million euro deal.
Sinead Heaney, co-founder of the BDO Development Capital Fund and successor fund, Development Capital Fund II, said Perigord increased its valuation by over 400 per cent during its time there.
In February 2016, the BDO Development Capital Fund made a €2.4 million investment in Perigord to accelerate and support its international expansion plans.
Following a period of growth and new contract wins, the fund invested a further €3 million in Perigord in June 2017 to fast-track the development and market penetration of the company’s artwork management software solution, GLAMS.
Following the Tech Mahindra transaction, both of the fund’s investments in Perigord will be realised.
Perigord is the fifth exit for the fund, achieving a significant return for the fund’s investors in the process.
BDO has offices in Dublin, Limerick, Cork and an affiliate office in Belfast BDO and takes an active interest in clients’ businesses working closely as business advisers, not just as accountants, auditors or taxation specialists.
