Co Tipperary-based financial services group SYS Group has agreed a deal to buy Cork-based Global Life & Finance, which has €100m in assets under management.
SYS said today's deal will bring overall assets under management by the group to over €500m and will increase its workforce to 58.
Today's acquisition is the latest in a series of four recent acquisitions by SYS Group as it continues to position itself as one of the leading Irish financial services businesses.
Established in 2015, SYS Group now has 8,500 clients. The company incorporates SYS Financial Planning, SYS Employee Benefit Solutions, SYS Public Sector Advisory, SYS Private and SYS Health Advisory Insurance Services.
Global Life & Finance was founded in 2000 by its current chief executive Seamus Fox. The firm provides financial planning, investment management and pension planning services from its headquarters in Cork City and has a portfolio of over 1,000 clients across Cork, Dublin, Kerry, Waterford, Limerick, and Galway.
The deal will bring the total number of customers SYS Group has to 8,500.
The companies said that Seamus Fox will continue to be heavily involved in regular client activity as he moves into a senior role with SYS Group.
Tony Delaney, CEO of SYS Group, said that not only is this acquisition an excellent fit for SYS Group in terms of culture, strategy, and client portfolio, it will enable the group to continue to build upon its position as one of the leading advisory firms in the Irish market.
"I am also very pleased that Seamus will be joining the SYS Group team, as his expertise is unparalleled, and he is very highly regarded within the industry," he added.
Seamus Fox, CEO of Global Life & Finance, said the company is very closely aligned with SYS Group in a number of critical areas, particularly in terms of professionalism, experience and expertise.
"I believe the acquisition will help to ensure that we can uphold our commitment to delivering top-tier financial services to our clients whilst leveraging SYS Group's scale, expertise, additional services and wider solutions," he added.
