Arachas announces intention to acquire Hooper Dolan Limited
29 June 2021
Arachas Corporate Brokers Limited (“Arachas”) a subsidiary of The Ardonagh Group (“Ardonagh”, “The Group”), has today announced that it had 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 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.
“It was very clear to us from our earliest conversations with directors Cathal Lowe, Paul Dolan and Charlie Cavanagh that our businesses were aligned culturally, and they stressed the importance of protecting the great legacy and tradition established by 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.”
Cathal Lowe, CEO of Hooper Dolan, added: “Having been approached for our business a number of times over the last few years we were confident that Arachas was the only credible acquirer. Our businesses share a strong vision, a mirrored culture and with the scale of the group we are certain they are the right owners for the next stage of our journey.”
“Combining our respective expertise will result in a nationwide network of insurance experts that will deliver enhanced customer service to our existing and potential clients along with the provision of superior products tailored for clients’ needs. It will also mean greater opportunities for our 122 staff in the new national and international network. We look forward to joining the Arachas family and building on our success.”
Notes to Editors
THE ARDONAGH GROUP
The Ardonagh Group is the UK’s largest independent insurance distribution platform and a top 20 broker globally. We are collection of best-in-class entrepreneurial and specialist brands with a network of more 100 locations and a combined workforce of more than 7,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.
Arachas is Ireland’s largest, fastest-growing, nationwide insurance brokerage. We specialise in protecting Irish entrepreneurial spirit - the backbone of the Irish economy. We do this by combining our knowledge of the insurance issues facing Irish people, in business and in their day to day life, with our access to solid and reliable insurance providers. Originally established in 1969, Arachas has grown to be a nationwide broker with offices in Dublin, Kildare, Galway, Mayo, Cavan, Waterford and Cork. The company was acquired by Ardonagh – the international Insurance group with over 100 offices and 7,000 employees in 2020.
HOOPER DOLAN GROUP
Founded in 1978 Hooper Dolan has grown to be one of Ireland’s most trusted general insurance brokers with offices nationwide employing 122 staff. It has developed a reputation for being client focused, providing an innovative reliable professional expertise to its clients and a proven record of absolute integrity to all.