Kieran McCabe is stepping away from the managing director role and being bought out as majority shareholder.
Triangle, a technology services company based in Dublin, is preparing for the next phase of growth after undergoing a management buyout.
The company’s existing management team has bought out majority shareholder Kieran McCabe, who has led Triangle for many years. McCabe is now moving from the role of managing director to non-executive chair and adviser to the business.
Triangle will now be led by newly appointed managing director Paul Flavin, who joined the company as commercial director in 2019.
The existing management team of six remains, with Flavin joined by Miriam Byrne as operations director, Brendan Healy as services director, Donal Byrne as CTO, Michelle Harris as sales director and Mark Byrne as financial director.
“We are extremely grateful to Kieran for his legacy and this opportunity but also for his continued input into the business which has allowed for consistency with the execution of our strategy,” Flavin said.
“The [management buyout] will allow the senior management team to continue building on the hard-earned successes and we are excited about the growth in the managed services business, which has doubled year on year for the past four years. We are positioned for our next phase of growth as we extend our footprint internationally.”
Triangle was founded more than 20 years ago and is based in Ballsbridge. Its services cover cloud management, data centre optimisation, security and networking, and managed IT services, with partners including VMware, IBM, Check Point and UiPath.
It has clients in Ireland including ESB, Aviva and Musgrave. It has also extended its offerings overseas, most recently to the US market.
Triangle now has an annual turnover of more than €26m and has grown to almost 100 employees.
The tech services company revealed earlier this year that it had plans to expand its team further. Miriam Byrne said at the time that Triangle was “seeing significant demand for specialised managed services in critical areas within enterprise environments” across a number of sectors.
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