Arachas Corporate Brokers Limited (“Arachas”) a subsidiary of The Ardonagh Group, has announced that it has reached agreement to acquire Hooper Dolan Limited, in a move that will significantly extend its nationwide presence and help drive the company’s ambitious business expansion throughout the Republic of Ireland.
Hooper Dolan is one of Ireland’s most respected insurance broking brands with over 120 employees across 12 offices nationwide. Established in 1978 and with headquarters in Waterford, the business specialises in the provision of insurance products for both business and consumers and in 2020 reported an income of €14.1 million.
Commenting on the acquisition, Conor Brennan, CEO of Arachas, said;
“Arachas is interested in investing in great businesses, backing their management teams to grow and develop and to create something which is sustainable for their people, their customers and for the communities they operate in. This acquisition is consistent with our strategic vision to expand our business and be the leading experts in our field and it represents a significant opportunity to complement our existing business.
“Despite a hugely competitive Irish M&A market, this transaction illustrates that with resolute commitment to clear strategic direction, there are still deals to be found. As the principal dealmaker in this region, we will concentrate now on our integration and growth plans. We are happy to have completed our target acquisitions and reluctant to participate in a cycle of excess, as acquisition activity reaches a peak. Our timing in shaking hands with Hooper Dolan could not have been better.”