Shikawa Technologies investment in Big Red Cloud a major boost for Irish SMEs
Thousands of SMEs are set to benefit after Shikawa Technologies agreed to invest in the Big Red Cloud Group.
Shikawa Technologies is a private equity investor in software backed by Melior Equity Partners.
It is the seventh investment from Melior Equity Partners Fund II, which is backed by a pool of local and international blue-chip investors, including The Carlyle Group, the European Investment Fund, Ireland Strategic Investment Fund, Bank of Ireland and AIB.
The Big Red Cloud Group offers cloud-based accounting and inventory software for businesses.
As part of the investment, Jonathan Cosgrave, Partner, Melior Equity Partners, and Shane O’Brien, Investment Director, Melior Equity Partners, will join the Board of Directors of Ishikawa Technologies alongside Stuart McCaul.
More than 8,000 Irish small & medium size enterprises (SMEs) use the Big Red Cloud platform.
In a statement, Big Red Cloud said: "With Ishikawa Technologies’ support, Big Red Cloud Group is investing further in cloud innovation, automation of payments and collections, and expanding exports, particularly to the UK, where Turbo Inventory, the company’s latest product, is already gaining traction.
As part of this transition, CEO of Big Red Cloud Group, Marc O’Dwyer, will leave the company to pursue other business interests, while Chief Financial & Product Officer, Paraic Nolan, will continue leading key areas of the business.
"Incoming CEO, Stuart McCaul, the Founder of Ishikawa Technologies and a seasoned leader in the software sector, will take the helm, ensuring continuity and a renewed focus on customer success."
Marc O’Dwyer, Founder & CEO of Big Red Cloud Group, said: "Building Big Red Cloud has been an incredible journey.
"I’m immensely proud of how we’ve helped Irish businesses take control of their finances, and I know that the combination with Ishikawa Technologies will only strengthen our ability to serve customers for years to come."
Stuart McCaul, Ishikawa Technologies’ Founder and Incoming CEO of Big Red Cloud Group, said: "Big Red Cloud has always stood for customer success, reliability, and Irish tax expertise.
"Our goal is simple: to make running a business easier for our customers.
"With new investment in cloud technology, automation of payments and collections, and an even more intuitive experience, we’re excited to help Irish SMEs do more with less effort."
Jonathan Cosgrave, Partner at Melior Equity Partners, said: "We are proud to back Ishikawa Technologies in this strategic acquisition.
Marc O'Dwyer, Founder, Big Red Cloud, Catherine Lockhart, COO, Big Red Cloud; and Stuart McCaul, Ishikawa Technologies’ Founder and Incoming CEO of Big Red Cloud Group
"Big Red Cloud is a well-regarded leader in Irish SME software, and with Ishikawa Technologies’ vision and expertise, we see tremendous potential to scale its products, enhance automation, and expand into new markets.
"This is exactly the type of investment that aligns with our focus on supporting ambitious, high-growth companies in Ireland."
Photo: Paraic Nolan, CFO & Product Officer of Big Red Cloud; Jonathan Cosgrave, Partner at Melior Equity Partners; Catherine Lockhart, COO, Big Red Cloud; Marc O'Dwyer, Founder, Big Red Cloud and Stuart McCaul, Ishikawa Technologies’ Founder and Incoming CEO of Big Red Cloud Group.
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