London insurance intermediary Global Risk Partners (GRP) will seek further deals here after closing an acquisition of a majority stake in Irish commercial broker, Crotty Insurance Brokers.
he GRP deal will see Crotty’s Dublin offices becoming a hub for the UK firm here and, according to the company, signals its intention to seek further acquisitions..
Stephen Ross, Head of Mergers and Acquisitions for GRP, said: “We’re delighted to be bringing such a well-respected and successful business on board and to be entering the Republic of Ireland’s thriving insurance sector.
Finbarr Crotty, Eoin Greene and Graham Devine will all continue as executives, directors and shareholders in the business.
Mike Bruce, Group CEO at GRP, said: “We’ve always seen Ireland as a great opportunity to grow the business beyond the UK, so we’re very pleased with this deal and look forward to further growth in the ROI market.”
Crotty was advised by Key Capital who acted as lead corporate finance advisor, Crowe who provided financial and tax advice and Wallace Corporate Counsel who provided legal advice. Matheson provided legal advice and KMPG provided financial and tax advice to GRP.