A financial planning and wealth management company based in Killarney is to acquire a Dublin-based company for an undisclosed sum.
Gallivan Financial says this acquisition of Tara Financial Partners Ltd will increase its total assets under management to more than €850 million.
Gallivan Financial is majority-owned by the Gallivan family, who previously sold Gallivan Murphy Insurance Brokers to US-based Assured Partners in 2022; Gallivan Financial was not part of that transaction and has now embarked on a significant expansion strategy.
The Killarney-based company says the transaction is expected to be completed within a number of weeks.
This deal to buy Tara Financial Partners Ltd is the third acquisition by Gallivan Financial this year and means that it has added five new businesses to its network over the past two years.
Earlier this year, Gallivan Financial acquired Mount Street Group, which was its first move into the Dublin market, and Tralee-based Kelly O’Shea Pensions and Financial Services for an undisclosed sum.
The company says this acquisition with additional transactions currently in exclusive negotiations, means Gallivan Financial remains on track to exceed €1 billion in assets under management by the end of the year.
Gallivan Financial Managing Director, Fergal Smith says this latest acquisition enables them to deepen their reach in Dublin, while also reinforcing their national expansion strategy.