Irish private equity firm Erisbeg purchased the majority stake in UK-based IT recruitment firm Fruition IT and IT development firm Fruition Consulting.

The investment will expedite the international and local expansion strategies of both businesses.

According to RTE, the deal is worth over €15 million.

Averaging 500 placements a year across both permanent and contract positions, Fruition sources and places tech-talent in some of the biggest tech giants, FTSE 100 organisations, as well as start-ups.

The Leeds based businesses were founded and launched in 2008 by Sarah Pawson. She will remain managing director and heavily involved in both businesses. The Fruition group achieved organic turnover of £51.4 million in 2022.

The investment will allow the businesses to deliver their services to an even larger global footprint while offering the scope to enter new markets. Fruition IT and Fruition Consulting have plans to grow their internal team by 60% over the next 12 months, recruiting an additional 20 specialists. They will continue expanding their client base across the UK and US.

As part of the investment, Fruition will be joining forces with one of Erisbeg’s acquisition, Irish-based technology recruitment company, Eolas.

Sarah Pawson, founder and managing director at Fruition IT & Fruition Consulting, said, “I am delighted with the investment and looking forward to our growing partnership with both Erisbeg and Eolas. The injection of capital will accelerate our growth and enable the Fruition brands to reach their full potential at a new pace, whilst creating opportunities not just for management, but for all the team here at Fruition as well as future hires.”

Thomas Davy, co-founding partner at Erisbeg, said, “What Sarah and the Fruition team has built across the Fruition brands and the growth they have enjoyed is truly impressive. Fruition will be a great addition to Erisbeg’s portfolio and a real asset to our IT recruitment brand, Eolas.”

Erisbeg, founded in 2017, scales Irish SME’s with an operationally focused buy and build strategy.