Tocal is an operator-led acquisition vehicle for industrial and energy-services businesses.
Two decades of project delivery, commissioning, and executive leadership across the energy and industrial sectors stand behind every acquisition Tocal makes. Tocal is acquiring businesses directly and raising the capital to do it, giving investors an operator’s discipline behind their money.
What that operating experience actually looked likeThe discipline behind Tocal comes from founder Lorcan O Carroll’s two decades leading project delivery, commissioning, and executive teams across the energy and industrial sectors. He built and led the economic case for major capital projects in oil and gas, the analysis that decides whether a large, high-risk investment gets funded at all: net present value modelling, cost comparison, technical and project risk assessment, and the HSE and budget discipline that keeps a capital-intensive project both safe and solvent.
He also led the establishment of a global Centre of Excellence in Commissioning Planning inside a multinational services contractor, sitting exactly at the interface between engineering, delivery, and the numbers that justify the spend. It’s the same skill that evaluating an acquisition runs on, aimed at a different kind of deal.
Where that's going nowTocal is looking for an industrial, trades, or engineering services company with an established customer base and an owner ready to transition day-to-day leadership, generating $1 million to $3 million in EBITDA, and raising the capital to acquire and operate it directly, run hands-on from day one.
For investors, lenders, and potential co-sponsors