Companies Registration Office
Week of 2026-W37
Irish Corporate Affairs Weekly
CRO Company Formations, Financial Filings & Director Networks — Week of 24 February 2026
Source: CRO | Period: 2026-02-20 to 2026-02-28
0 New Companies, a Spanish Pharma Giant, and a Dalkey Director Network: Ireland's Corporate Week in Full
The CRO's busiest single-day batch of the week — 24 February 2026 — delivered 0 new company registrations alongside a wave of financial filings that tell two very different stories about Ireland's tech sector. Grifols, the Spanish blood plasma giant, quietly registered a Designated Activity Company at Grange Castle Business Park with €1 million in authorised capital, while a cluster of five management consultancies simultaneously appeared at the same Dalkey address — a pattern that speaks to structured wealth planning rather than organic entrepreneurship. Meanwhile, financial filings received this week reveal a tale of two IT services companies: one posting a €4.3 million loss on a €4.99 million goodwill write-down, the other quietly growing profit despite a $87 million revenue decline.
By the Numbers
| Metric | Value | Signal |
|---|---|---|
| New companies registered (week) | 0 | Active |
| New business names registered | 0 | Steady |
| Financial reports filed (period) | 0 | Filing season |
| Endava Ireland revenue (FY2025) | €20.1m | Down 17% |
| Endava Ireland net result (FY2025) | -€4.3m | Loss |
| Acra Control revenue (FY2024) | €37.6m | Up 24% |
| Acra Control dividend paid (FY2024) | €17.7m | To parent |
| Signant Health revenue (FY2025) | $229.3m | Down 27% |
The Investigation: What the Registrations Reveal
The week of 24 February 2026 was dominated by a single-day batch of 0 new company registrations, the largest single-day filing of the period. The sector breakdown tells a story of Ireland's economic moment: management consultancy leads (as always), but this week's batch also includes a Spanish pharma giant, a Donegal electricity trader, two Buncrana leisure companies, a Howth-based AI startup, and a Glengarriff ice cream maker with €1 million in ambition. The External Company registrations — foreign entities establishing an Irish presence — include Toshiba TEC, Vantive (the Baxter kidney care spin-off), and Pleo Technologies, the Danish fintech. Ireland's role as a European gateway remains firmly intact.
Notable New Registrations This Week
| Company | Type | NACE Sector | Capital | Location |
|---|---|---|---|---|
| Grifols International Services DAC | DAC | Financial services | €1,000,000 | Grange Castle, Dublin |
| Parcae Therapeutics Limited | LTD | Scientific & technical | €10,000 | Sir John Rogerson's Quay, D2 |
| Marcton Construction Limited | LTD | Residential construction | €1,000,000 | Royal Canal Park, Dublin 15 |
| Glengarriff Gelato Limited | LTD | Ice cream manufacture | €1,000,000 | Glengarriff, Cork |
| Ballycarnan Farm Limited | LTD | Mixed farming | €1,000,000 | Portlaoise, Laois |
| Ryan Agro Limited | LTD | Mixed farming | €1,000,000 | Ballymahon, Longford |
| Celtic Verbs AI Limited | LTD | Management consultancy | €100 | Howth Road, Dublin 5 |
| TNCRB Limited | LTD | Trade of electricity | €100,000 | Letterkenny, Donegal |
| Castlebawn Property Developments Limited | LTD | Residential construction | €1,000,000 | Kilcock, Kildare |
| Covenant Engineering Limited | LTD | Biotech R&D | €100 | Lucan, Dublin |
Sector Breakdown: Top NACE Codes This Week
Financial Performance: Notable Filings This Week
| Company | Revenue | Profit/(Loss) | Total Assets | Employees | Auditor |
|---|---|---|---|---|---|
| Acra Control Limited FY2024 | €37.6m | €12.6m | €13.6m | 88 | Deloitte |
| Signant Health Global Solutions FY2025 | $229.3m | $1.3m | $57.9m | 6 | KPMG |
| EdgeConnex Ireland Limited FY2024 | €21.4m | — | — | — | — |
| Grange Castle EdgeConnex Limited FY2024 | €17.6m | — | — | — | — |
| Endava (Ireland) Limited FY2025 | €20.1m | -€4.3m | €9.1m | 5 | Unnamed |
The Connections: What the CRO Data Alone Cannot Tell You
Company registrations are the skeleton. Cross-referencing them with financial filings, court records, and news coverage adds the flesh. This week, three distinct themes emerge from the data: the quiet expansion of Ireland's fintech lending ecosystem (with legal consequences), the structural shift in how Ireland's data centre sector reports revenue, and a pattern of high-capital agricultural incorporations that signals something deeper than farm management. The CRO data is the starting point; the story is in the connections.
The Radar: Three Signals Worth Watching
The Deep Dive: Two Companies Worth Watching Closely
Two companies from this week's filings warrant a closer look. One is a defence and aerospace telemetry maker quietly generating €37.6m in revenue from a Sandyford office, paying dividends that dwarf its asset base. The other is a London-listed IT services subsidiary that has just written off nearly €5m in goodwill and now carries negative equity — a company that exists on its parent's goodwill as much as its own. Together they illustrate the two faces of Ireland's multinational economy: the high-performer extracting value, and the subsidiary absorbing losses.
Acra Control Limited — The Quiet Defence Contractor
Acra Control Limited is registered at Sandyford Business Park, Dublin 18, and is a wholly owned subsidiary of Curtiss-Wright Controls Inc, the US defence and industrial group. Its principal activity is the design and manufacture of telemetry data acquisition systems — the equipment used to record flight test data from military aircraft, missiles, and spacecraft. With 88 employees and €37.6m in revenue, it punches well above its weight for a company most Irish business readers have never heard of.
| Metric | FY2024 | FY2023 | Change |
|---|---|---|---|
| Revenue | €37.6m | €30.4m | +24% |
| Profit before tax | €14.5m | €11.8m | +23% |
| Dividend paid | €17.7m | €8.0m | +121% |
| Employees | 88 | 81 | +9% |
| R&D spend | €2.4m | €1.6m | +49% |
| Pillar Two top-up tax | €349,859 | €0 | New cost |
| Auditor | Deloitte | Deloitte | — |
The question for 2025 accounts: with global defence spending elevated by geopolitical tensions, can Acra Control sustain its 24% revenue growth trajectory, or will the FY2024 surge prove to be a one-off uplift from a specific contract cycle?
Endava (Ireland) Limited — The Goodwill Problem
Endava (Ireland) Limited is the Irish subsidiary of Endava plc, a London-listed IT services company that trades on the New York Stock Exchange under the ticker DAVA. The Irish entity provides IT services — primarily software development and managed services — to clients across Europe and North America. It registered at 13-18 City Quay, Dublin 2, and was once a meaningful revenue contributor to the group.
| Metric | FY2025 | FY2024 | Change |
|---|---|---|---|
| Revenue | €20.1m | €24.0m | −17% |
| Gross profit | €1.8m | €3.0m | −41% |
| Goodwill impairment | €4.99m | €0 | New charge |
| Net result | −€4.3m | +€1.6m | Swing |
| Net assets/(liabilities) | −€0.4m | +€4.1m | Negative equity |
| Cash at bank | €0.4m | €0.7m | −40% |
| Employees | 5 | 7 | −2 |
The question for 2026 accounts: will Endava plc inject capital to restore positive equity in its Irish subsidiary, or will the entity be restructured as the group rationalises its European footprint?
Key People This Period
| Name | Role | Notable Activity | Connections |
|---|---|---|---|
| Sandra O'Neill | Director | Appointed director of two €1m-capital companies at same Dalkey address on 24 Feb 2026 | Garnetson Limited, Sapphire OPA Limited |
| Shane O'Brien | Director | Director of Grifols Irish DAC registered at Grange Castle Business Park | Grifols International Services DAC |
| Rahul Srinivasan | Director | Co-director of Grifols Irish DAC; international appointment | Grifols International Services DAC |
| Jayson Punwani | Director | Director of Parcae Therapeutics; biotech startup on Sir John Rogerson's Quay | Parcae Therapeutics Limited |
| Graham Mills | Director | Co-director of Parcae Therapeutics; youngest director on the board (b. 1991) | Parcae Therapeutics Limited |
| Mark Stuart Thurston | Director | Signed off Endava Ireland FY2025 accounts showing €4.3m loss and negative equity | Endava (Ireland) Limited |
One to Watch: Acra Control Limited
Acra Control Limited
| Metric | Value |
|---|---|
| Revenue (FY2024) | €37.6m |
| Profit before tax | €14.5m |
| Net margin | 38.5% |
| Employees | 88 |
| Revenue per employee | €427,000 |
| Dividend paid | €17.7m |
Acra Control designs and manufactures telemetry data acquisition systems — the hardware that records flight test data from military aircraft, missiles, and spacecraft. Based in Sandyford since the 1990s, it is a wholly owned subsidiary of Curtiss-Wright Controls Inc, part of the NYSE-listed Curtiss-Wright Corporation. Its customers include defence ministries and aerospace primes across Europe, the US, and the rest of the world.
Why it matters: at €427,000 revenue per employee and a 38.5% pre-tax margin, Acra Control is one of the most productive small manufacturers in Ireland. Its €17.7m dividend — paid to a US parent on €37.6m revenue — illustrates how Ireland's role in the global defence supply chain generates significant value extraction. The Pillar Two top-up tax of €349,859 is the first sign that this extraction is now subject to a minimum tax floor. With global defence budgets rising, Acra Control is well-positioned — but the question is whether that value stays in Ireland or flows to Shelby, North Carolina.
The number that matters: €17.7m dividend on €37.6m revenue — a 47% payout ratio. For every euro of revenue generated in Dublin, 47 cents leaves Ireland as a dividend to the US parent. That is not a criticism; it is a structural feature of Ireland's FDI model. But it is the number that defines what Acra Control is: a high-value production node, not a wealth-accumulating hub.
The Broader Picture: Courts, Property, and the Week Ahead
The Irish Courts
The High Court's company law list continues to process a steady flow of insolvency and winding-up petitions, a reminder that behind every week's CRO formation data sits a parallel stream of corporate failure. Two cases from the recent period are particularly relevant for business readers: a Cork winding-up petition granted on cash-flow insolvency grounds, and a director restriction case arising from inter-company transactions in a liquidation. Both illustrate the legal consequences of corporate structures that look straightforward on the CRO register but carry hidden complexity.
| Citation | Parties | Subject | Why It Matters |
|---|---|---|---|
| [2026] IEHC 140 | Charles Kelly Limited v Companies Act 2014 | Winding-up petition, cash-flow insolvency | High Court (Cork) granted petition; company unable to pay debts to solicitor petitioners. Illustrates speed of court action on unpaid professional fees. |
| [2025] IEHC 358 | Downtul Limited [In Liquidation] v Companies Act | Director restriction, inter-company transactions | Liquidator challenged directors over inter-company transactions and accounting records. Relevant for any director managing multiple entities — a pattern visible in this week's CRO data. |
| [2023] IEHC 673 | Powerkids Entertainment v Adenwala & Ors | Reckless trading, fraudulent trading, insolvency | Directors found liable for reckless trading while company was insolvent. Precedent relevant for any director of a company with negative equity — such as Endava Ireland. |
Property Markets & Plans
The Irish residential property market recorded 1,877 transactions in February 2026, with an average price of €382,914 and a median of €340,019 — a market that remains firmly above the €300,000 threshold that defines affordability stress for first-time buyers. The top transaction in the period reached €17.5 million, a reminder that the high end of the Dublin market remains active. The Business Post reported this week that Patrick Durkan's firm D/Res sealed a €70 million deal for a 54-acre housing site near Marlay Park in Dublin 16 — one of the last significant housing sites within the M50 — backed by Avenue Capital and the Ireland Strategic Investment Fund.
| Address | County | Type | Price | Date |
|---|---|---|---|---|
| 27 Pavilions Shopping Centre, Swords | Dublin | Commercial | €165,000 | 26 Feb 2026 |
| 150 Castle Ave, Clontarf, Dublin 3 | Dublin | Residential | €2,270,000 | 19 Feb 2026 |
| 27 Kincora Rd, Clontarf, Dublin 3 | Dublin | Residential | €1,525,000 | 20 Feb 2026 |
| 3 Londonbridge Rd, Sandymount, Dublin 4 | Dublin | Residential | €650,000 | 20 Feb 2026 |
| 9 Brookwood Heights, Artane, Dublin 5 | Dublin | Residential | €505,000 | 20 Feb 2026 |
The Week Ahead
The week of 24 February 2026 will be remembered in the CRO register as the week Grifols came to Grange Castle, five holding companies clustered in Dalkey, and a defence contractor quietly paid its US parent €17.7m from a Sandyford office. The single most important takeaway is structural: Ireland's corporate economy is simultaneously attracting high-value multinationals (Grifols, Acra Control, Signant Health), absorbing the losses of struggling subsidiaries (Endava), and generating a steady flow of domestic formations across every sector from ice cream to electricity trading. The CRO register is a real-time barometer of economic confidence — and this week's reading is cautiously positive.
What to Watch: (1) Grifols International Services DAC's first annual return, due August 2026 — it will reveal what the Irish DAC is actually doing at Grange Castle. (2) The Dalkey cluster's first set of accounts — five €1m-capital companies with the same address and secretary will eventually disclose what assets they hold. (3) Endava Ireland's FY2026 accounts — the going concern question will be answered by whether the parent has injected capital or allowed the entity to continue on letter-of-support life support.