Arachas Corporate Brokers has reached an agreement to acquire Hooper Dolan Limited – an insurance broker in Ireland.
Hooper Dolan has more than 120 employees across 12 offices throughout Ireland. Established in 1978, the Waterford-based broker specialises in the provision of insurance products for both business and consumers. In 2020, the company reported an income of €14.1 million.
“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,” said Arachas CEO Conor Brennan.
Brennan also commented that while the Irish M&A market is hugely competitive, the acquisition of Hooper Dolan shows that “there are still accretive deals to be found.”
“As the principal dealmaker in this region, we will concentrate now on our integration and growth plans; 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,” the CEO added.
Brennan also mentioned that when Arachas was in talks with Hooper Dolan’s directors – Cathal Lowe, Paul Dolan and Charlie Cavanagh – it found that the two businesses were “aligned culturally,” and that the Hooper Dolan team was focused on protecting the legacy of its founder, Ronnie Dolan.
“We are fully intent on continuing this legacy by providing great career opportunities for the people and an even greater choice of products and capacity for existing Hooper Dolan customers. This is an acquisition for growth, and we look forward to welcoming all Hooper Dolan employees and are excited for the future,” the Arachas leader said.
