Scaling Irish tech firm Viatel is now working with Bank of Ireland to accelerate its growth strategy.
Viatel has joined forces with Bank of Ireland for its key banking needs as it continues to grow through acquisition.
Bank of Ireland is providing the growing tech business with a Super Senior Revolving Credit Facility which will support the business’s continued growth-by-acquisition strategy as well as its day to day working capital needs.
“Viatel Technology Group is delighted to be working with Bank of Ireland as we continue to grow and expand”
Viatel has completed nine acquisitions since 2020, with each one either adding new capability or enhancing existing offerings. The most recent acquisition was that of MJ Flood Technology, the tech division of the MJ Flood Group. This strategic move strengthens Viatel’s market position, bolstering its existing expertise with MJ Flood’s capabilities in cybersecurity, cloud, and managed services.
Hitting the clouds
Established in 1997 with offices in Dublin, Limerick and Lisburn, Viatel Technology Group is one of Ireland’s leading providers of cybersecurity, cloud, connectivity, managed IT and Microsoft solutions.
Viatel provides expert, end to end business technology solutions to private and public sector clients, servicing the full spectrum of their requirements via a comprehensive, award-winning product portfolio.
Darragh O’Neill, director of New Business Origination in Corporate Banking at Bank of Ireland explained that his team put considerable time and effort into building a meaningful relation with Viatel’s executive management team over the past two-to-three years.
“In conjunction with the relationship with sponsor Macquarie which we had alongside our colleagues in our London office, this relationship and trust built up allowed us to offer a compelling revolving credit facility financing package to the borrower and ultimately take on Viatel as a corporate customer.”
He explained that the Bank has provided Interest Rate Hedging on Viatel’s Barings Unitranche debt, and will be taking over additional parts of day-to-day banking facilities.
O’Neill said the Bank is looking forward to growing a deep and long-standing relationship with Viatel.
“Bank of Ireland Corporate & Commercial Banking are delighted to provide Super Senior facilities to support the recent Macquarie investment in Viatel,” O’Neill said.
“Over the last number of years we have built an excellent relationship with Gina, Paul and the wider Viatel management team and are delighted to partner with them on the next step in their growth journey.
“Viatel Technology Group is delighted to be working with Bank of Ireland as we continue to grow and expand,” said Gina Laverty, CFO, Viatel Technology Group.
“I would like to thank the team for their support and commitment to understanding our business. We look forward to working with them into the future; their support and expertise will be invaluable as we realise our ambitious growth strategy.”
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Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
