IBI Corporate Finance takes 50% of the capital of M&A advisor
IBI Corporate Finance has acquired a 50% stake in Broker Exchange Ireland (BXI), a specialist mergers and acquisitions (M&A) advisor based in Dublin.
This is IBI’s first transaction since the management buyout of Bank of Ireland in 2017.
Founded in 2019, BXI advises transactions between brokers working in the insurance and wealth management industries.
Tom Godfrey, Chairman and CEO of IBI Corporate Finance, said the traditional world of insurance brokerage and wealth management was going through a period of rapid consolidation and change.
“There have been high-profile historic deals in the high end of the financial services market and particularly in the wealth management and insurance sectors over the past few years, but brokers in the smaller segment of the market follow a similar process,” he said.
“Regulatory and compliance costs are rising dramatically, many smaller brokers with owner-managers are looking to exit the market and you have a new generation of Irish and international players looking to bring together various parties to increase market share and leverage advantage of greater economies of scale,” he said.
“We believe there will be a significant volume of transactions in this sector over the decade and we are delighted to support BXI which has extensive experience and relationships in the broker market,” he said.