Business

New turnaround and transformational private equity investment firm launched

Neil Adair and Gordon McElroy from Riada Capital Partners. Picture: Kelvin Boyes/PressEye

A NEW business turnaround and transformational private equity investment firm, Riada Capital Partners, has launched in Belfast to support challenged and stressed companies requiring capital and financial restructuring.

Riada claims to be “special situations investors” whose prospective investee businesses may be experiencing one or several issues from stress/distress, insolvency, management buy-in/buy-out, family/shareholder disputes, sale of the business, to the injection of capital investment to fund growth and acquisitions.

The firm has been founded by Neil Adair, a PwC-trained chartered accountant and a licensed insolvency practitioner with 36 years' experience in corporate finance and restructuring, corporate banking, operational business management. He is also a long-standing pro-active private-equity investor.

He is partnering with Gordon McElroy, a leading corporate lawyer and founding partner of MKB Law, who sits on the boards of a number of Irish companies advising on strategy and corporate governance. He's also a former president of Belfast Chamber.

Riada says it can make investments anywhere from £50,000 to £1,000,000 of new cash from its own partner-led private-equity fund.

The new firm hopes to work closely with professional advisers, financiers and lenders, accountants and solicitors to identify the right companies that will benefit from the assistance and support of Riada Capital Partners.

Neil said “Following a series of significant events over the past 14 years, such as the global financial crisis, Brexit, the Covid-19 pandemic and most recently the onset of the tragic war in Ukraine, many businesses will require to reorganise and restructure their financial requirements and obligations into the future.

“Riada Capital Partners will provide support and practical solutions to companies facing significant challenges. We can step in and help those companies with fundamentally good potential but which, without our help, could be facing disaster.”

Gordon added: “Professional advisers should see us as a welcome alternative in the advisory and investment space, another option for their client companies who are going through periods of financial difficulty and significant challenges.

“Ultimately our interest is in reaching satisfactory solutions acceptable to all stakeholders associated with a business and bringing certainty to all concerned.”

Riada Capital Partners has two strands to its business: investment into prospective companies which will typically demonstrate one or more of the features detailed above; and advisory services.

These include: the provision of debt and all other forms of finance, financial and operational restructuring, insolvency and restructuring services, mergers & acquisitions advisory, including, management buy-outs and buy-ins, as well as disposals, trusts and asset protection.

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