London-based Mayfair Equity Partners snaps up two more Irish investments

London based private equity firm Mayfair Equity Partners (MEP) has snapped up two more Irish investments, less than a week after backing a €20m acquisition of Irish Welcome Tours.

MEP said it has bought a majority stake in Donegal based Promise Gluten Free, an Irish speciality baker established in 2011 and separately has invested growth capital in tech investor Dylan Collins’ led SuperAwesome, a technology led business that provides compliance-driven digital media technology to online TV brands aimed at under 13s – a highly regulated segment of the online market.

The latest investments come less than a week after MEP portfolio company Hotels & More agreed a deal to buy Irish rival Irish Welcome Tours, in a bolt on deal understood to have been valued at €20m.

 That deal was MEP’s first Irish investment. The firm’s other investments include the YoSushi Japanese casual dining chain, bought in an £80m (€90m) deal in 2015.  

Read more: British operator buys Irish Welcome Tours

Promise Gluten Free, based in Donegal is a group of companies comprising Aran Ard Teoranta (trading as Gallagher’s Bakery) and Cuisine Royale Manufacturing. It sells in Ireland, the UK, US and Australia under its retail brands: ‘Promise Gluten Free’ and ‘PureBred Gluten Free’.

Its products are stocked by retailers including Costco, M&S, Tesco, Sainsbury’s, ShopRite, Sobeys, SuperValu, Dunnes Stores, Spar and Woolworths.

Mayfair was advised on the Promise deal by Spayne Lindsay.

In an unrelated deal, MEP said it has invested growth capital into Dylan Collin led SuperAwesome, a technology company which helps brands provide online TV services to the under 13 age group, without falling afoul of online safety and compliance standards.

Mayfair said its investment will facilitate SuperAwesome’s growth, including the entry into new markets and the development of new client solutions.