Beltrae Partners
Private equityBelfast · Growth · 9 people tracked
Also known as Alton Agencies Limited
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Investment thesis
Beltrae operates as both a corporate finance advisory firm and a private equity investor, with the two functions working in synergy. Rather than deploying capital through a formal fund, investment is provided directly by the Beltrae team, sometimes alongside partners. It backs acquisitions, sales, MBOs, buy-ins and private-equity cash-out deals across a broad range of sectors, with particular expertise in family-business exits. Current deal sizes range from £1M to £15M, and investment to date exceeds £60M. The firm also invests in property, originating and structuring deals and co-investing in projects across the British Isles, Continental and Eastern Europe, and the USA.
Source: firm website, verified Aug 3, 2026.
Team · 9 people
from the firm's websiteConor McCullough is a founder shareholder of Beltrae Partners and holds a first-class honours degree in Engineering from University College Dublin. He began his career at JP Morgan trading futures and options, becoming Head Trader, then moved to Salomon Bros for energy and commodity derivatives trading and later ran AIG's London derivatives operation. In 1999 he joined Dermot Desmond's International Investment Underwriters, focusing on capital markets and venture capital transactions, before helping execute major financing, M&A, and property refinancing deals at Beltrae.
Greg Hamill is a founder shareholder and investor at Beltrae Partners. He graduated from Queen's University Belfast in 1974 with a degree in Aeronautical Engineering and later qualified as a chartered accountant, working at Deloittes and Price Waterhouse before becoming finance director at Belfast International Airport, where he was one of three directors who led its 1994 management buyout. Since leaving the airport in 1996, he has worked as a private equity investor across corporate and property transactions.
Ian Kerr is a founder shareholder of Beltrae Partners, which he co-established in 2003. He earned a BSc and PhD from Queen's University Belfast, then spent six years in corporate finance at JP Morgan in London and New York before returning to Belfast, where he built a corporate finance team at Price Waterhouse and became a partner in 1996, later heading the merged PricewaterhouseCoopers corporate finance team in Northern Ireland. Across his career he has completed over 360 corporate and property transactions and advised on numerous M&A deals and PFI projects.
Co-founder of Beltrae Partners, established in 2003.
David McCloy studied Business Studies at The University of Edinburgh and qualified as a chartered accountant with Ernst & Young, where he spent five years in the corporate finance team before joining Beltrae Partners as a Director in 2005. He has specialised in mergers and acquisitions since 2000, completing over 120 transactions across sales, acquisitions, and management buyouts. He also serves as a Non-Executive Director on several company boards.
Dan McCrea earned a Bachelor of Laws from Queens University Belfast in 2014 and qualified as a Chartered Accountant (ACA) with KPMG Belfast in 2018, later working in Transaction Services at KPMG Belfast and New York. Before joining Beltrae Partners he spent 18 months at Deloitte Ireland as regional lead for Transaction Services in Northern Ireland. At Beltrae he has worked on transactions including the sale of Property News/PropertyPal Ltd and Used Cars Ltd to Daft.ie Ltd and an investment round into OBBI Golf Ltd.
James Donnelly holds a first-class honours degree in Accounting and Business from Henley Business School, University of Reading, is a chartered accountant who qualified with PwC in London, and has passed all three levels of the CFA program. His career in corporate finance began in 2017 at Wyvern Partners, a London corporate finance boutique, where he advised management teams on private equity-backed and M&A transactions, followed by two years at KPMG Ireland advising on M&A and debt financing. He has since worked on a range of M&A transactions before and during his time at Beltrae Partners.
Matt McCullough joined Beltrae Partners in September 2021, having worked in corporate finance in Belfast since 2014 across both 'Big 4' and boutique firms, specialising in Mergers & Acquisitions and Debt and Capital Advisory. Earlier in his career he worked as a structured finance derivatives trader with RBS Markets in London following an MBA at Ulster University. His work has included private equity transactions, structured debt and equity solutions for property developers, and real estate and renewable infrastructure projects across the UK and Ireland.
What they invest in
from 1 of 1 portfolio companiesBiotech ×1Deep Tech ×1Healthtech ×1Medical Devices ×1Mental Health ×1
HQs:United Kingdom×1
Investments · 1 tracked
founders shown can be your intro pathNeurovalens develops medical devices using neuromodulation technology to address health conditions including obesity and anxiety disorders.
BiotechDeep TechHealthtechMedical DevicesMental HealthNorthern Ireland, GB
Dr. Jason McKeown(MD PhD, Founder)
Co-investorsClarendon Fund Managers Ltd.IQ CapitalStartXACF InvestorsBritish Business BankInnovation Ulster+2 more
Principals & officers · per Companies House
what is this? ⓘSecretary & Director · Irish · since 2003
Director · British · since 2003
Director · British · since 2003
Director · British · since 2003
Director · British · since 2005
Frequently asked questions
- What stage does Beltrae Partners invest at?
- Beltrae Partners invests at the Growth stage.
- What is Beltrae Partners's typical check size?
- Beltrae Partners typically writes checks of $1M – $15M.
- What sectors does Beltrae Partners focus on?
- Beltrae Partners focuses on Biotech, Healthtech, IoT, PropTech, Sector Agnostic.
- Where is Beltrae Partners located?
- Beltrae Partners is headquartered in Belfast, GB.
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