CWSI ap­points Men­ton as chair­man amid €1m fund­ing talks

Irish Independent - - Business - Gavin McLough­lin

A MO­BILE phone se­cu­rity busi­ness has made a num­ber of se­nior board and man­age­ment ap­point­ments amid a drive to raise fresh funds.

CWSI, whose clients in­clude AIB, Ryanair and Ir­ish Life, has ap­pointed St Vin­cent’s Health- care Group chair­man Jimmy Men­ton, a for­mer part­ner at ac­coun­tancy firm KPMG, as chair­man of its board.

It has also ap­pointed ex­pe­ri­enced in­dus­try player Conor English as a non-ex­ec­u­tive direc­tor.

Mr English has ex­per­tise at pro­vid­ing in­sur­ance ser­vices to mo­bile op­er­a­tors and has launched busi­nesses in Asia and the Caribbean.

The com­pany has also ap­pointed Paul Line as head of man­aged ser­vices for the UK.

Mr Line was part of the man­age­ment team that listed Aus­tralian tele­coms busi­ness In­abox Group on the Aus­tral- ian Stock Ex­change in 2013. CWSI founder and CEO Ro­nan Mur­phy said the ap­point­ments re­flected “the com­pany’s am­bi­tious plans to grow its busi­ness op­er­a­tions in Ire­land, the UK and Europe”.

The busi­ness has ap­pointed cor­po­rate fi­nance ad­vis­ers Fo­cus Cap­i­tal to man­age a fundrais­ing round set to value it at €10m.

It is re­port­edly look­ing to raise €1m.

Cur­rent back­ers of CWSI, which em­ploys 30 peo­ple, in­clude En­ter­prise Ire­land and a num­ber of pri­vate in­vestors.

Mo­bile in­dus­try vet­eran Mr Mur­phy sold re­tail busi­ness Cel­lu­lar World to Digi­fone in 2001 and has been in­volved in a num­ber of busi­nesses in the sec­tor since then.

Other CWSI clients in­clude book­mak­ers Paddy Power Bet­fair and UK As­set Res­o­lu­tion – the UK Gov­ern­ment Agency re­spon­si­ble for manag­ing bank­ing bad debts.

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