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Managers buy out Merrion Capital

Tuesday, April 15 16:46:55

A group of senior executives have secured a management-led buyout of Merrion Capital, according to an online report on RTE.

The deal is understood to be worth in excess of E10 million, with a value described as being in the "mid-teens".

35pc of the shares will change hands under the buyout, while staff will hold the majority of the stock.

The deal will see New York-based securities firm Allen and Co sell its minority stake in the company.

Recent reports suggested that Cantor Fitzgerald and Davy were in line to takeover Merrion.

The sale will be Merrion's fourth change of ownership in a decade.