International law firm Pinsent Masons has advised VIOTAS founders Paddy Finn and Duncan O’Toole on the management buy-out of Bord na Móna’s 50% share in the company.

VIOTAS is headquartered in Limerick, and operates in Ireland, Poland, USA, Australia and New Zealand.

The company helps large businesses to generate additional revenue and achieve their sustainability goals through smart electricity-management and demand-response services.

Semi-state company Bord na Móna first invested in VIOTAS in 2016 as part of a strategic commitment to support businesses developing climate-action solutions.

'Substantial return'

VIOTAS says that the deal, funded by Goodbody Capital Partners on behalf of AIB, will position the company for significant growth internationally and provide Bord na Móna with “a substantial return” on its original investment.

The Pinsent Masons team acting for VIOTAS was led by partners Garrett Monaghan and Neil Keenan.

Monaghan described VIOTAS as “a recognised international pioneer” in the demand-response market.

“We have worked with Paddy and Duncan for many years and are pleased to have advised them on such a significant milestone in their business journey,” he added.