DC Advisory advises Bank of Ireland on the acquisition of J&E Davy
Background
- Bank of Ireland Group is one of the largest diversified financial services groups in Ireland
- Established in 1783 by Royal Charter, Bank of Ireland is organized into four trading segments: Retail Ireland, Wealth & Insurance, Retail UK and Corporate & Treasury
- J&E Davy was founded in 1926 and manages in excess of €16 billion of client assets and employs over 800 people
- J&E Davy has offices in Dublin, Cork, Galway, Belfast and London, providing wealth management and capital market advisory services to its clients
Process
- DC Advisory advised Bank of Ireland on the acquisition of J&E Davy
- DC Advisory undertook a multi-phase competitive process, advising on valuation, bid letters, strategy while also managing multiple due diligence streams
Outcome
- Bank of Ireland Group acquired J&E Davy for €440m in July 2021
- Acquiring Davy will materially increase Bank of Ireland’s wealth and fee income, and the acquisition is expected to be accretive to earnings in the first full year of ownership, excluding transaction related payments
- This transaction further showcases DC Advisory’s expertise in the Financial Services sector
“Wealth management and capital markets are important parts of our business. Bringing Davy into the Bank of Ireland Group represents a significant milestone which will considerably enhance our customer offerings and growth outlook for Bank of Ireland.”
“Bank of Ireland is an important client with whom we have a longstanding strategic relationship.. We were delighted to support Bank of Ireland in the delivery of this important transaction, which is key strategic step for its business”
Date
Sectors
- Financial Services
Deal type
- M&A Advisory
Deal locations
Deal team
Chairman & CEO, DC Advisory Ireland
Managing Director, DC Advisory Ireland
Director
Actions
Disclaimer
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