Investment firm Granahan McCourt Capital has bought a majority stake in Dublin-based AirSpeed Telecom. Led by the private investment company’s CEO and chairman, David McCourt, the consortium of investors includes Walter Scott and Oak Hill Advisors, with asset managing company BlueBay Ireland contributing a senior lending facility. AirSpeed Telecom provides voice and data services to Irish enterprises, offering speeds up to 10Mbps to business users in the counties of Dundalk, Portlaoise, Wexford and Waterford. In April 2014, in a joint venture between the Irish telecoms service provider and Metropolitan Area Network (MAN) operator E-net (which was acquired by Granahan McCourt last year) saw the town of Claymorris in County Mayo receive a 250Mbps fibre-optic network as a trial run for further deployment of such technology across Ireland.
McCourt says the investing company ‘see significant untapped potential in Ireland…AirSpeed is a different, if complementary, business to E-net,’ while CEO of the Dublin telecoms operator, Liam O’Kelly, said: ‘Granahan McCourt’s expertise and global focus will allow us to further strengthen our significant offering in the Irish market place while also allowing us to pursue expansion opportunities in international markets.’ Financial details of the transaction have not yet been disclosed.