The CEO of Republic of Work, the Cork-based co-working and innovation campus, has acquired the business from its shareholders Dan and Linda Kiely and co-founder Dave Ronayne.
Frank Brennan has been involved in Republic of Work since its inception nine years ago.
Dave Ronayne, who invested in the company in 2016, and Dan and Linda Kiely who came on board in February 2020, have now sold their shares to Mr Brennan as part of the acquisition.
Republic of Work was founded on South Mall in Cork in 2017 and became a collaborative co-working space and innovation hub with five full-time employees and home to more than 170 companies.
The acquisition marks a planned transition following a period of "sustained investment and strategic development", Republic of Work said.
Mr Brennan said he was "delighted" to announce the acquisition, seeing it as an "opportune time to take over the company and begin a new chapter" for the company with "huge growth potential."
Investor Dan Kiely praised Mr Brennan as "the ideal next owner" who "understands the DNA of the place because he helped create it."
"Linda and I backed Republic of Work because it matters: Cork has so many ambitious founders, and founders need community, momentum and the right environment to build. Republic of Work has consistently delivered that, through good times and very challenging ones," Mr Kiely said.
Co-founder Dave Ronayne said, "it’s been fascinating to see the trajectory of the organisation over the last few years."
Republic of Work was listed in the top 50 of Europe’s best startup hubs by The Financial Times ranking Top 10 in UK & Ireland and Top 2 in Ireland last year.
