Fri, 26 Jan 2024 | BUSINESS SALE
Campion Insurance, PIB Group’s lead division in Ireland, has acquired Blackrock-based broker FitzGerald Flynn Insurances. The County Dublin-headquartered firm, founded in 1998, specialises in financial planning and general insurance for both individuals and corporate clients. The company is led by Niall FitzGerald and Val Diggin and, during 2022, generated turnover of slightly over €600,000.
The deal, which was for an undisclosed sum, is the 20th acquisition that PIB has completed in Ireland. The company seeks to acquire Irish brokers, having recently acquired County Clare-based Munstergroup Insurance and Mullingar firm Lir Insurance, and its Irish business has been led by Campion Insurance since it acquired the company in 2021.
PIB Group is backed by private equity firms Apax Funds and The Carlyle Group, which has enabled it to make M&A a core part of its growth strategy. The group is active in the UK, Ireland, Channel Islands, Germany, Spain, the Netherlands, Denmark, Italy and Poland.
FitzGerald Flynn Insurances’ Niall FitzGerald commented: “The acquisition of our company by PIB Group is great news for our clients and team. At FitzGerald Flynn we take the time to build long-term relationships with our clients ensuring we provide tailored solutions to meet their individual needs.”
“A critical factor for us in deciding to sell to Campion Insurance was that they take an equally long-term and proactive attitude when partnering with their clients. We are delighted to now be part of the PIB Group and look forward to working with Jim and Campion Insurance to drive further growth of the business in Ireland."
Campion Insurance CEO Jim Campion added: “Niall, Val and the wider team have built a very successful business, with a strong portfolio of clients, and we look forward to working with them.”
Find out more about M&A in the broker market
This client is a well run, established firm coming to the market with a view to finding a supportive and professional practice to take over current client and staff relationships.
This vendor comes to the market with a full team of staff in place, and good relationships with clients to ensure continuity and high retention.
Presenting a specialist accounting practice with strong management team in place and great staffing structure, this business can be managed remotely by a firm further afield.
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