Business Irish

Saturday 24 March 2018

Norkom's Kerley set to chair Fenergo

Nick Webb

Nick Webb

PAUL Kerley, the entrepreneur who sold his listed IT group Norkom Technologies to BAE in a €217m deal last year, has hooked up with fast-growing financial software firm Fenergo as its new chairman.

Kerley is thought to have netted up to €17m in the Norkom deal, which also saw major payouts for former F1 boss Eddie Jordan, Denis O'Brien, former FAI boss Fran Rooney and Tony Smurfit.

It is understood that the company raised close to €2m recently from internal and external investors.

"It's a potential Norkom," Kerley told the Sunday Independent, although Fenergo focused more on wholesale and prime brokerage rather than retail banking.

"I've come on board and am investing time and capital. It's a good company," Kerley added. "My job is to help scale it up and internationalise the business."

After leaving Norkom, Kerley has been involved with the clever Smart Bin business, which has developed technology to inform businesses when their bins are full. He's joined on the board there by Ray Nolan, who sold WRI to Hellman & Friedman for close to €220m. Kerley is also involved with Mindconnex Learning, which has developed a smart way of teaching William Shakespeare to students.

Fenergo is a spin-off from entrepreneur John Purdy's highly successful software firm, Ergo.

Sunday Indo Business

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