Ankura Consulting Group acquires Irish communications firm founded in 2013 for about €45m
Karl Brophy, former INM executive and founder of Red Flag Consulting, owns 75 per cent of the firm, indicating a payout for him of just more than €33 millionWhile the sum paid for the Irish business has not been disclosed, industry sources put the value of the deal at about €45 million, which would equate to about 10 times its earnings before interest and tax last year. This sum is subject to a four-year earn out period.
Filings at the companies office indicate that Mr O’Reilly, a son of the late businessman Tony O’Reilly and a former chief executive of, and his wife Christina own 8.8 per cent of the business between them. This would put them in line for a payout of just under €4 million.Storm Eowyn set to cost insurers €200mSéamus Conboy, who is head of Europe at Red Flag, owns 5.8 per cent of the company and stands to earn about €2.6 million from the sale.
“It’s been very clear in every conversation we’ve had with them that they more than match our ambition and they trust us to help them build the most expert and highest performing team of consultants in the world. We are very excited.”
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