Calling the best of indigenous Irish companies to apply for Ireland's Best Managed Companies 2024: Deloitte Ireland

AIB announced as new programme sponsor

UCD Michael Smurfit Business School announced as academic partner

1 February 2024: Deloitte has launched the 2024 Best Managed Companies Awards (BMC) and is calling for ambitious Irish and Northern Irish companies across all sectors to enter this year’s programme.

Now in its sixteenth year, the programme celebrates the hard work, innovation, and success of Irish businesses and their management teams. Ireland’s Best Managed Companies network currently comprises 130 companies from a variety of sectors, across the island. These businesses have a combined turnover of €17 billion and provide over 53,000 jobs across a range of sectors – from retail and hospitality to manufacturing and construction.

Speaking at the launch of this year’s programme Brian Murphy, Lead Partner for the Ireland’s Best Managed Companies Awards Programme at Deloitte said: “Now in its 16th iteration, I am delighted to see Ireland’s Best Managed Companies Awards programme continue to go from strength to strength. The programme provides a platform for Irish indigenous businesses to celebrate their successes and inspire innovation and growth. The Best Managed Companies network enables long-standing members and new entrants, to challenge and benchmark themselves against the best in business across Ireland.

“With continued advancements in AI and regulation, challenges retaining talent and the growing importance of ESG, companies can maximise the programme to navigate this ever-changing landscape. Deloitte is pleased to support the network with coaching to ensure companies maintain a competitive advantage. We have seen first-hand the positive impact the Best Managed Companies accolade has had on businesses, from Antrim to Cork. We encourage ambitious companies, with strong culture and governance, to apply to the programme today.”

Deloitte is pleased to welcome AIB as a new sponsor of the awards programme.

Attending this year’s launch, Colin Hunt, Chief Executive Officer, AIB said: “We at AIB are delighted to be the lead sponsor of the Ireland’s Best Managed Companies Awards Programme.  Our people make our organisation in AIB, and the same can be said for the thousands of enterprises across Ireland. This programme celebrates the innovation and commitment inherent in Irish businesses the length and breadth of the country, and we look forward to playing our part in showcasing those companies.”

The application process provides participating companies with the opportunity to analyse their entire business, including performance, management practices and goals, which is a vital exercise for any company.

Last year’s programme saw eight newly qualified companies including APC Therapeutics (Dublin), Codex (Dublin), JJ Rhatigan & Company (Galway), Kyte Powertech (Cavan), Lowe Corporation (Antrim), Mail Metrics (Dublin), Production Equipment Europe (Galway), and Topflight Travel Group (Dublin).

Speaking to his experience as a new winner of the 2023 Best Managed Cohort, Mark Barrett, CEO & Co-Founder, APC Therapeutics said: “The BMC award gave us added confidence in the robustness of APC & VLE’s processes, enabling us to successfully launch a €100m expansion which will double our staff to 600. The Medicine Accelerator Campus stands as one of the most disruptive sites in pharmaceutical development, digitalization, and manufacturing. It will revolutionize medicine development, ultimately reducing the time it takes to deliver new and advanced therapeutics to patients.”

Alongside introducing a new sponsor and academic partner, the programme also brings on board a number of new names to its independent, multi-disciplinary judging panel, including; Cathy Bryce (Managing Director, AIB Capital Markets), Professor Anthony Brabazon, (Dean, UCD Michael Smurfit Business School) and Orla O’Gorman (NED & former Head of Listing, Euronext).

The new additions will join chair Frank Ryan (Chair of IDA board), Ellvena Graham OBE (Chair of Tourism NI), Lionel Alexander (Chair of Intact Software), Feargal Mooney (formerly Hostelworld), and Sarah Murphy (CEO, Business Post).

For further information and details on how to enter the awards, visit www.deloitte.ie/bestmanaged. The closing date for Phase 1 entries is Friday, 23^rd of February. Companies that progress to Phase 2 of the application process will be notified in March, with the winners to be officially announced at the annual Gala Awards September 2024. 

ENDS

Issued by Murray on behalf of Deloitte Ireland

Notes to Editors

Eligibility criteria

• Companies must be Irish/Northern Irish, substantially privately-owned, managed and controlled companies (incorporated in either the Republic of Ireland or Northern Ireland) 

• Companies must have a turnover in excess of €25 million / £21 million

• Companies must be established for at least five years 

• Co-operatives engaged in value-adding and trading activities are eligible to participate in the programme

• Private equity-backed businesses are also eligible where the business is incorporated in, and the management team is based in, Ireland / Northern Ireland 

The following companies are ineligible:  

• Public companies 

• Foreign multinationals and their subsidiaries 

• Credit unions / insurance companies / banks 

• Charities, not-for-profit organisations and their subsidiaries 

• Government-owned / public sector agencies 

• Partnerships

About the Awards Programme

·  New Best Managed Companies: Companies that receive the award for the first time. These companies must go through a Phase I and Phase II Best Managed Companies Awards Programme application process.

• Gold Standard: Best Managed Companies that receive the award for the fourth year in a row. These companies must go through a Phase I and Phase II Best Managed Companies Awards Programme application process.

• Platinum Club: Best Managed Companies that receive the award for the seventh year in a row. These companies must go through a Phase I and Phase II Best Managed Companies Awards Programme application process.

• Re-qualifiers: Best Managed Companies, already in the programme that are not going for new, gold or platinum status. Companies applying for requalification must satisfy the programme eligibility criteria and go through a requalification review process in order to ensure that the companies continue to uphold the Best Managed standard.                                

For further information contact:

Amy McMahon
Murray
amcmahon@murraygroup.ie
083 896 3106

Olwyn Flanagan
Deloitte
oflanagan@deloitte.ie
083 173 7585

About the Best Managed Companies Awards

Ireland’s Best Managed Companies programme promotes and recognises excellence in Irish/Northern Irish owned and managed companies. Ireland’s programme launched in 2008 and is the second longest running programme after Canada where the programme has been running since 1993. It is the only awards scheme on the island of Ireland that considers a business’ performance from every perspective. Entrants to the programme will compete for this designation in a rigorous process that evaluates the calibre of their management abilities and practices.

Programme sponsors are AIB, UCD Michael Smurfit Graduate Business School and the Business Post. For further information, visit www.deloittebestmanaged.ie.

International History of Best Managed Companies Programme

The Best Managed Companies Programme originated in Canada in 1993, where it has been run successfully ever since and is the country’s leading business awards programme. In addition to Ireland and Canada, the programme is currently run in a total of 46 countries including China, The US, Southeast Asia, The Netherlands, Belgium, Germany, Denmark, Czech Republic, Italy, Sweden, Norway, Turkey, Mexico and Chile.

About AIB 

AIB is a financial services group operating predominantly in Ireland and the United Kingdom. Our shares are quoted on the Irish and London stock exchanges and we are a member of the FTSE4Good Index. Whether it’s adapting to a greener way of living, planning for the future, growing a business or simply navigating day-to-day life, our ambition is to support our 3.2 million customers, the communities where we operate and the wider economy.