We have advised Cardinal Capital (Cardinal), a leading alternative investment manager, on its investment in HLB Ireland (HLB), a Dublin-based accountancy and advisory firm, and FutureRange Group (FutureRange), a leading provider of cybersecurity and IT services. This injection of capital will fuel expansion, drive innovation, and enable further investment in talent, technology, and additional services while preserving both independence and a client-first approach.
With Cardinal’s support, the combined group of HLB and FutureRange will expand its teams, pursue strategic acquisitions, and enhance its service offerings. A key focus will be driving innovation across digital transformation, ESG, business advisory, cybersecurity, and managed services while empowering its clients with forward-thinking and technology-driven solutions that enhance efficiency, resilience, and sustainable growth.
With a proven track record that includes six acquisitions in recent years, HLB and FutureRange are well positioned to expand further, and the additional capital from Cardinal will enable the group to make further strategic acquisitions that align with its culture of excellence and client-centric approach.
This marks Cardinal’s first transaction in the accountancy sector, part of its ongoing consolidation of the Irish SME accountancy market. The roll-up is driven by strong fundamentals, including predictable revenue streams, strong client relationships, increasing regulatory demands, and growing opportunities to cross-sell services to both businesses and its owners.
