PKF’s M&A team is delighted to have provided lead advisory support to Keystone Insurance
Keystone Insurance is acquired by Radius Payment Solutions
Keystone Insurance Limited (“Keystone”) is pleased to announce it has been acquired by Radius Payment Solutions Limited (“Radius”).
Keystone Insurance is an independent insurance broker based in Dundalk Co. Louth. The Company is a specialist in business insurance solutions to SME businesses customers offering an extensive range of products and services, to clients predominately but not limited to the construction industry.
Bill Holmes, CEO of Radius commented:
“This acquisition gives us an exciting opportunity to grow the Radius Insurance business within the Republic of Ireland. This will enable us to provide an insurance offering to new and existing customers from the wider Radius group. This follows on from the successful acquisitions of UK-based commercial brokers, Burley and Milestone in the last 18 months and I am really looking forward to growing The Radius Insurance brand and product offering outside of the UK.”
Anthony Woods, Keystone Founder said:
“If you are considering selling your business, I highly recommend David Lucas and the wider PKF team who I found to be extremely professional, efficient & easy to deal with. They expertly managed our entire sales process and achieved an excellent result for all concerned – our customers, team, management, shareholders & the new owners – the multi-billion Radius Group who have both the industry knowledge and financial firepower to take the Irish market by storm & bring the business to a whole new level.”
PKF acted as lead corporate advisors to Anthony Woods and Keystone supported by Fiona Kelly (Fiona Kelly & Co Accountants) and Noel Reid (KMR Accountants). Squire Patton Boggs acted as legal advisers to Radius while Marcus Lynch Solicitors acted for Keystone. Deloitte (UK) and BDO provided financial due diligence and tax due diligence respectively to Radius.
David Lucas, Partner PKF
“We are really delighted to have successfully advised Anthony and Keystone on their sale to Radius. It was great getting to know Anthony, Claire and Niamh throughout the transaction and wish them the best for the future. Keystone has been a consistently profitable business and represents a very good entry point for Radius who will continue to work with a strong established management team.”
About Keystone Insurance Limited:
Established in 2006, Keystone is an independent insurance broker based in Dundalk, Co. Louth. The Company is predominately a commercial broker and prides itself on its high conversion marketing strategy and sales model underpinned by the efficient and effective management system adopted.
About Radius Payment Solutions Limited:
Radius Payment Solutions Limited is a global business services company founded in the UK in 1990 that now operates in 18 countries across 5 continents. The business is headquartered in Crewe, Cheshire, where 750 of the companies c. 2000 employees are based. The business reported a turnover of c. £2.2bn in FY21.