Private equity firm Erisbeg has made a significant majority investment into Fruition IT and Fruition Consulting – partner brands in the IT recruitment and Technology consultancy sectors.
The investment will expediate the international and local expansion strategies of both businesses.
The Leeds-based businesses were founded and launched in 2008 by Sarah Pawson. Sarah will remain Managing Director and heavily involved in both businesses, leading the brands through this new chapter.
As part of the investment, Fruition will be joining forces with one of Erisbeg’s acquisitions; Irish technology recruitment company, Eolas.
Sarah Pawson, founder and Managing Director at Fruition IT & Fruition Consulting, said: “I am delighted with the investment and looking forward to our growing partnership with both Erisbeg and Eolas. The injection of capital will accelerate our growth and enable the Fruition brands to reach their full potential at a new pace, whilst creating opportunities not just for management, but for all the team here at Fruition as well as future hires.”
Thomas Davy, co-founding partner at Erisbeg, said: “After my first meeting with Sarah, I left inspired at the prospect of a partnership. What Sarah and the Fruition team has built across the Fruition brands and the growth they have enjoyed is truly impressive. Fruition will be a great addition to Erisbeg’s portfolio and a real asset to our IT recruitment brand, Eolas.”
Advisors on this transaction included Clearwater, Deloitte Ireland, EY Ireland, Gordons LLP, Pinsent Masons, RSM and BHP.
