Mazars Deal Advisory advises Salmon Software on its majority sale and investment by Melior Equity Partners

Leading Irish private equity firm, Melior Equity Partners, has agreed an investment in Salmon Software, a fast-growing financial software business that provides customers with a world-class treasury management software system. Founded by CEO John Byrne, Dublin-headquartered Salmon Software employs a total of 30 staff across its operations in Ireland and the Czech Republic.

Since its foundation, the company’s treasury management software system has evolved into one of the world’s most sophisticated treasury management products reflecting the global financial industry’s technological innovation and increasingly complex nature.  The company’s software system enables customers to automate treasury management processes providing information on debt, derivatives, foreign exchange, banking, cash management and payments which deliver efficiencies that save costs, ensure full regulatory compliance and provide real-time business insights.  Salmon Software’s treasury management system supports a range of blue-chip customers including global businesses such as CRH, Avolon, Dechra Pharmaceuticals, DP World and Ryanair.

Salmon Software’s existing management team, including John Byrne, will remain in their current leadership roles and continue as significant shareholders in the business.  Fiona Timmons, an experienced software industry finance executive, has joined the company as CFO and will work closely with John Byrne and the existing senior management team.

Commenting on the announcement, John Byrne, CEO and Founder of Salmon Software, said, “The investment by Melior is an exciting development for both our customers and employees.  We have developed a world-class treasury management software system with deep product functionality that receives the ongoing support of a loyal blue-chip customer base.  The Melior investment will allow us to grow and invest further in our team, extend our support and sales infrastructure, and deliver product enhancements including a superior cloud-hosted offering.  This investment will provide exciting career development opportunities for our existing employees, see new talent join the company and will significantly benefit current and future customers. I would like to thank the Mazars team for their support and professionalism on the transaction”.

John Bowe, Partner Mazars Deal Advisory, said “We were delighted to advise and support the Salmon shareholders on this transaction. John and his team have built one of most sophisticated treasury management solutions for Blue Chip companies globally and is just another example of Irish companies delivering global software solutions. Under Melior investment the future looks really exciting for Salmon and we look forward to watching the business continue on its growth journey. This transaction continues to add to our Mazars deal credentials in technology and software transactions”.

Jonathan Cosgrave, Co-Founder of Melior Equity Partners, said, We are excited to partner with John and his team, who have successfully grown Salmon Software into a world-class provider of treasury management software systems through continued product innovation, customer engagement and market-leading organic growth.  The treasury management software system market is valued at  €1 billion and is forecast to grow strongly over the coming years.  As a leading independent provider with strong reference customers, Salmon Software is ideally placed to meet this demand.”

Melior Equity Partners was founded in 2020 by Jonathan Cosgrave and Peter Garvey.  Melior Equity Partners Fund II is backed by a pool of local and international blue-chip investors and invests capital in, and provides support to, businesses across Ireland to achieve their growth ambitions.  

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