IBI Corporate Finance, one of the top deal advisers in the State, has been sold to DC Advisory, an investment bank owned by Japan’s Daiwa Securities Group for an undisclosed sum.
However, it is believed that the deal values the Irish business, led by chairman and joint chief executive Tom Godfrey and joint CEO Tedd Webb, significantly higher than the €10 million price at which it was acquired from Bank of Ireland in 2017 in management buyout.
The move will create an international independent investment bank in Ireland, and open up access to international buyers and assets, along with a pool of almost 700 bankers in 23 locations, IBI and DC Advisory said in a joint statement. IBI has 28 employees.
IBI will also gain expertise through DC Advisory that covers markets such as tech and tech-enabled services, healthcare, consumer, industrials, infrastructure, and real estate, it said.