Investments

Ion Equity completed the buyout of SWS Group in December 2006. The businesses purchased cover a diverse range of sectors. Within the renewable energy division, SWS both owns and operates windfarms (over 200 MW in operation with a significant pipeline). The energy group is also active in biomass and waste.

SWS is the largest BPO provider in Ireland.

The Topaz consortium, promoted by Ion Equity acquired Irish Shell and Shell Northern Ireland in July 2005 and Statoil Ireland in July 2006. With revenues of €2.5 billion and 1,300 staff, Topaz is now the largest Irish fuels distribution & forecourt convenience business on the island of Ireland and the largest independent oil distributor in Europe

USIT is a leading student travel agency and hotel operator. Following difficulties in the travel sector USIT was placed into Examinership (similar to Administration / Chapter 11) in 2002. Ion Equity led the €20m acquisition of USIT from the Examiner in June 2002 and the subsequent turnaround in the business.

USIT successfully sold its hotel businesses in July 2005 and has turned its travel agency business back into significant profitability.