Limerick-based Redfaire lands €13 million from BGF to scale its ERP and cloud services business

Redfaire, a Limerick-based enterprise resource planning (ERP) and cloud services provider, has secured a €13 million minority investment from Ireland-based growth capital firm BGF.

The funding will back the company’s international expansion, ongoing service development and a targeted acquisition strategy. The round comes shortly after Redfaire’s acquisition of eKal Solutions, which adds established capabilities across human capital management, enterprise performance management, financials and supply chain management solutions.

“We built Redfaire by staying close to our customers and taking on their most complex ERP challenges. BGF’s investment is a strong endorsement of that work and of the team behind it. Their backing allows us to accelerate international expansion, further enhance our capabilities, and broaden our reach and expertise. BGF is a partner that shares our long-term, growth-focused mindset, and we look forward to delivering for our customers and our people,” said Brian McInerney, CEO and co-founder of Redfaire.

Founded in 2003, Redfaire supports customers as they modernise their ERP estates and adopt cloud and hybrid solutions. The business provides consulting, implementation, managed services, application support and cloud services.

Now a team of more than 200 people, Redfaire partners with a customer base of blue-chip global enterprises running complex, mission-critical systems, with operations across Ireland, the UK, mainland Europe and North America. The company specialises in Oracle’s JD Edwards ERP software and Oracle Cloud Infrastructure, and is a founding partner of Redfaire International, a network of JD Edwards consulting partners spanning 23 countries.

As a certified B Corp, BGF has emerged as the most active equity investor in Ireland and the UK, dedicated to supporting good growth in entrepreneurial businesses. Backed by the Ireland Strategic Investment Fund (ISIF), Bank of Ireland, AIB and Ulster Bank, the firm has €250 million to invest in private SMEs across the country.

Since it was first set up in 2011 to address the UK’s SME funding gap and launched BGF Ireland six years later, its combined portfolio has invested over €4.67 billion (£4 billion) in the UK and Ireland, backing more than 600 businesses with over 280 exits completed.

BGF provides businesses with an initial investment of €4 million to €20 million in exchange for a minority shareholding, with the ability to deploy follow-on funding, plus scaleup support such as events, board introductions and access to a network of other BGF-backed companies, adding value without taking control.

MJ Murphy, Investor at BGF, said, “Redfaire is exactly the kind of ambitious, founder-led business that BGF is proud to back. From its base in Limerick, the team has built a genuinely differentiated ERP and cloud practice, earning the trust of some of the world’s largest enterprises through deep technical expertise and long-term client relationships.”

“The management team’s appetite for growth is clear to see, and the real opportunity now is to further scale the business internationally, both organically and through acquisitions. We look forward to supporting the team with capital, strategic guidance and access to our value creation platform as they enter this next phase,” he added.

Alongside the funding, Redfaire is also announcing leadership changes, bringing in an outside leader to steer its growth. Glenn Timms is joining as Non-Executive Chair through the BGF Talent Network. A former PwC Corporate Finance Partner, Timms brings extensive executive and board experience across technology-enabled services and enterprise software.

He previously served as CEO of IESA and is Chair of NoBlue2, a cloud ERP consultancy. His significant experience in international scaling, strategic acquisitions, and supporting private equity-backed businesses through periods of growth and transformation, the kind of expertise that Redfaire needs to scale its global ambitions.