This is Clear’s 38th acquisition since its inception in 2001, and it is the company’s first foray into the Irish broker sector. Following Goldman Sachs’ investment last year, the acquisition of MBC Insurance underlines Clear’s plans to expand into new markets through focused M&A activity.
MBC Insurance, which celebrated its 40th anniversary last year, provides a comprehensive insurance service to over 5,600 clients nationally. MBC specializes in a wide range of commercial insurance kinds and industries, including business insurance, plant and access machinery hire, tool and equipment hiring, and forklift hire insurance.
MBC also provides a comprehensive range of IT insurance under its well-known Techinsure.ie brand.MBC is an active member of Brokers Ireland, Ireland’s premier representative group for insurance brokers.
The MBC executive management team, led by Managing Director Des Murphy, Directors Shane Sullivan and Bran McMahon, and Chairman Denis Collins, will continue to lead the business and are fully committed to driving MBC and the Clear Group’s future growth and strategic development in Ireland.
Clear stated that it intends to make other acquisitions in Ireland and is looking to speak with brokers who share similar values and culture.
Establishing a Clear presence in Ireland is a central plank of our strategy as we look to grow across Ireland and acquire businesses outside of the UK,” said Mike Edgeley, Clear Group’s group CEO.
We are thrilled to have completed this transaction, which demonstrates the great quality and passion of the MBC team and organization. According to Des Murphy, managing director of MBC Insurance, MBC and the Clear Group are ideal partners in terms of our shared values, commitment to our people, and customer satisfaction.
