Waterland Ireland has made a significant investment in McAdam Group, the Belfast-based multidisciplinary engineering, architecture and project management consultancy that serves infrastructure and built environment markets across Ireland and the United Kingdom.
The investment aims to enable the firm to expand its technical capabilities, strengthen its market position and pursue both organic growth and strategic acquisitions. McAdam Group’s existing leadership team will remain in place to continue leading the business and maintaining its focus on client service and project delivery.
Key facts
- McAdam Group reported a profit of £3.55 million and a turnover of £27.37 million in its latest accounts, representing a 15 per cent revenue increase
- The consultancy employs more than 200 staff across offices in Belfast and Cork
- Waterland Ireland plans to invest a further €250 million in Irish businesses over 18 months
- McAdam Group holds £4.16 million in equity, including £3.51 million in cash reserves
- The firm was founded in 1963 and has developed into one of the largest independent multidisciplinary consultancy practices on the island of Ireland
Investment to Support Expansion and Capability Development
Donal Mac Nioclais, partner at Waterland Ireland, said the firm was delighted to partner with a strong business in a growing industry. “What stood out to us about McAdam was the depth of expertise across the business and the trust it has built with clients over many years,” he stated. The private equity firm’s role will be to support investment in people, help develop new services and provide resources to pursue suitable opportunities while preserving the qualities that distinguish McAdam in the market.
McAdam Group provides engineering, architecture, project management, environmental and health and safety services to both public and private sector clients. Its client roster includes Northern Ireland Water, Uisce Éireann, Sisk subsidiary Farrans, Ulster University, Queen’s University Belfast and several local councils in Northern Ireland.
Strategic Partnership to Drive Growth Across Irish and British Markets
Martin Hare, managing director of McAdam Group, described the partnership as an important milestone for the company. “Waterland shares our ambition for the business and our commitment to delivering excellent outcomes for clients,” Hare noted. The strategic support, investment experience and international network provided by Waterland will enable McAdam to accelerate growth while preserving the expertise, culture and client relationships that have underpinned its success.
The partnership is expected to create new opportunities for employees to develop, collaborate and contribute to a broader range of high-quality projects across Ireland and the United Kingdom. Waterland’s approach combines strategic and financial support with local market expertise and an international network, which will be leveraged to expand McAdam’s capabilities and create additional opportunities for both employees and clients.
Waterland Ireland announced in August its intention to invest €250 million in Irish business ventures over the following 18 months. At that time, the private equity group had completed 41 acquisitions in Ireland since its 2020 launch. Those companies have increased revenues by almost €600 million to €1.15 billion and created 2,200 additional jobs, bringing total headcount to 4,900. Recent investments include backing the merger of Industrial Insulation Specialists and Secon Construction Services.
Reporting based on original coverage by Business Plus.