Transaction

Clearwater advises MBC Insurance on its major investment from the Clear Group

Transaction

MBC Insurance on its investment from Clear Group

Sell-side

Undisclosed

Role

Adviser to MBC Insurance on its investment from the Clear Group

Sector

Financial Services

Region

Ireland

Clearwater has advised McAuliffe Barry & Collins Ltd (trading as MBC Insurance and Techinsure.ie), a market leading insurance broker specialising in commercial insurance, on its significant investment from the UK based insurance broker, the Clear Group.

This is the Clear Group’s first investment into the Irish market, where it has ambitions to grow its presence. Last year it attracted major investment from Goldman Sachs, to support expansion into new markets through targeted M&A activity.

The executive management team led by Managing Director, Des Murphy, Directors, Shane Sullivan and Brían McMahon and Chairman, Denis Collins, are reinvesting a significant portion of their proceeds into the Clear Group. The team will stay in the business, remaining fully committed to driving the future growth and strategic development of both MBC and the Clear Group in Ireland.

Celebrating its 40th anniversary last year, MBC Insurance is one of Munster’s longest standing insurance brokers, having built an outstanding reputation in its sector. The company provides a comprehensive insurance offering to over 5,600 clients nationwide. MBC specialises in a variety of commercial insurance types such as business insurance, plant & access machinery hire, tool & equipment hire, and forklift hire insurance. In addition, MBC offers a wide range of IT insurance through its well-established Techinsure brand including cyber insurance, IT consultant insurance, and website & software developers insurance.

Established in 2001, the Clear Group is an independent chartered insurance broker, handling premiums of £350m and employing over 650 people across 15 locations. The company focuses on the UK corporate and SME market, with strong expertise in niche insurance verticals including property, financial lines, technology, and construction.

MBC is well positioned to achieve its strategic targets and help the Clear Group grow its presence in Ireland. It plans to leverage its new relationship with the Clear Group to grow market share, both organically and through acquisitions.

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We are delighted to finalise this transaction, which is testament to the exceptional quality and dedication of the business. MBC and the Clear Group are ideal partners in terms of our shared values, commitment to our people, and customer satisfaction. We are excited about the potential growth opportunities that this new partnership will bring. We would like to specifically thank John, Jonny, Matthew, and the Clearwater team for their invaluable insight and guidance throughout this process, and played a key role in achieving an excellent outcome for all parties involved.

Des Murphy, Managing Director, MBC Insurance
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Establishing a clear presence in Ireland is a central plank of our strategy as we look to grow across Ireland and acquire businesses outside of the UK. We are delighted the MBC team have chosen to join the Clear Group. MBC has a great team of people, and lots of potential to continue to grow backed by the support and investment of the Clear Group.

Mike Edgeley, Group CEO of The Clear Group

We have thoroughly enjoyed working with Des, Shane, Brían, and Denis, and are delighted to achieve a successful result for all shareholders. MBC is a great strategic partner for the Clear Group to establish a presence in the Irish market. We look forward to seeing what the combined businesses can achieve, in their next phase of growth.

John Curtin, Partner, Clearwater

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