Growth capital investor BGF has invested over €6m in ClearSphere, a provider of cleanroom and containment solutions for the pharmaceutical, medical device, healthcare and industrial sectors.
Headquartered in Cork, ClearSphere's clients include Pfizer, Abbott, Hovione, Tallaght University Hospital and the National Children's Hospital.
The company's annual revenues have increased from €6m in 2020 to over €13m this year.
BGF said its investment will enable ClearSphere to accelerate its growth strategy, expand its capabilities, invest in innovation and scale its operations across new geographies such as Northern Ireland and the UK.
Under the partnership, BGF's Joe Higgins will join the ClearSphere board as a Director, while Aoife McAdam will join as a board observer.
The transaction will complete following receipt of regulatory approval from the Competition and Consumer Protection Commission.
ClearSphere also said today it had appoined Liam Nagle as its Non-Executive Chair.
Mr Nagle brings over 40 years of international business experience, having held senior executive roles across technology, pharmaceuticals, construction, and healthcare. He has a proven record of leading large-scale transformations, building high-impact teams, and driving value creation across complex organisations.
He currently serves as Chairman of Norbrook Laboratories, a global veterinary pharmaceutical company, where he previously held the role of CEO.
Before that he was CEO and Chairman of SISK Group, the country's biggest construction company, and held senior leadership roles at Intel, Nortel Networks, and Bookham Technology.
Liam Nagle, Non-Executive Chair at ClearSphere, said the company has earned its place as a trusted partner to some of the most demanding clients in healthcare and life sciences.
"With a high-calibre management team and the backing of BGF, ClearSphere is well-positioned to scale sustainably and create long-term value as it expands into new markets," he added.
