Micksgarage founders complete partial MBO, almost doubling stake Ulster Bank backs buyout of some private investors Thu, May 13, 2021, 13:36 MICKSGARAGE_PRINT
Mick and Ciarán Crean, the twins who run online retailer Micksgarage, have completed a partial management buyout to almost double their stake in the business to 75 per cent. Ulster Bank has provided funding to the Mayo-born duo to buy several blue-chip shareholders out of the business, which is ostensibly focused on selling car parts and accessories but which has branched into outdoors and lifestyle products in recent years. The opportunity to do the transaction arose after financial institution Investec, from which the brothers had raised €1.5 million in 2016, told them last August that it planned to sell its stake. The Creans engaged corporate financier Conor Sheehan of CKS Finance to help them look at finance options and decided to buy it themselves.