LHK Group, the Leinster based general insurance and financial planning broker, has acquired a majority shareholding in leading Dublin-based Financial Planning and Wealth advisory firm ‘Finance One’.
LHK Group is a third-generation, Irish owned, practitioner-led general insurance and financial planning broker. Established in 1938, they are one of the oldest brokers on the island of Ireland, and act as the insurance and financial planning partner of choice for owner-managers, entrepreneurs, sole traders, partnerships, and family businesses across multiple industry sectors.
Colm Kelleher, a Chartered Insurance Broker, is the owner and Managing Director of LHK Group. He began his insurance career with Aon in London and returned to Ireland in 2007 to run the family brokerage MJ Kelleher and Sons. In 2013, MJ Kelleher and Sons acquired Dublin-based LHW General Insurance Brokers which led to the rebranding of the combined business to form LHK Group.
Significant Acquisition
Colm Kelleher is delighted to welcome the Finance One team and their clients to LHK Group. Commenting on the acquisition; “We are delighted to partner with current Directors Conor Sheeran, Heber O’Farrell and the wider Finance One team. This is our fourth acquisition in recent years as we set out to strengthen our position in a market increasingly dominated by global firms. Finance One has built up a very strong market presence in the areas of wealth management, pensions, investments, employee benefits and mortgage advisory services to private individuals and commercial clients in Ireland. The expertise of the Finance One team will build upon LHK’s existing financial planning capabilities and enable the Group to deliver a broad range of services to our clients, delivering value-based solutions and build trusted partnerships for many years to come. We will now have a team in excess of 80 professionals in our combined Group advising over 20,000 clients nationally, and plan to create additional employment opportunities in the sector over the coming years.”
Against the backdrop of increased consolidation in the industry by international publicly listed and private equity groups, LHK Group remains one of the few remaining independently owned brokers in the Irish market. The continued expansion of international firms in Ireland has led many independently owned brokers to exit, selling to larger rivals, who have entered the Irish market following consolidation in the USA and UK.
Closely Aligned Values
Finance One was established eighteen years ago in 2006 by Conor Sheeran and Harry Slowey. Conor is a former Director of Aon Consulting and previously worked for PTSB. Conor Sheeran commented “I have known Colm Kelleher and LHK Group for more than 25 years. We both worked in Aon and we have collaborated to provide solutions for our valued clients. We believe LHK is a very good fit for our business. Together with both our teams, we can grow the business substantially by offering a more comprehensive range of services to our clients. The values and ethos of LHK Group are closely aligned with Finance One and we look forward to being part of an enlarged Irish owned and managed financial services firm. Our clients will benefit from an enhanced service offering and our steadfast commitment to client service will remain”.
Dublin based Merry Mullen Accountants https://www.merrymullen.ie/ and Vincent and Beatty Solicitors https://www.vblaw.ie/ advised LHK Group Ltd on this transaction, with DLD Accountants, Cooney Carey Tax Advisors and Flynn O’Driscoll solicitors advising the sellers.
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