Arachas today announced that it has signed a legally binding agreement to acquire Brian J Pierce Ltd t/a BJP Insurance (‘BJP’) for an undisclosed sum. The transaction will complete subject to the receipt of certain approvals by the Central Bank of Ireland.
BJP is a Sandymount, Dublin based specialist broker that provides expertise in general insurance and has established itself as a proven market leader in the taxi insurance sector in Ireland.
The company was originally established in 1979 by Brian Pierce and his wife Gabrielle. Following the completion of the deal, Brian Pierce will retire, and his son Terry will continue to lead the business as it transitions into Arachas. Following which he will assume a senior role within Arachas. The company currently has 12 employees who will all transfer their employment to Arachas.
Conor Brennan, CEO Arachas said; “This acquisition is part of our strategic vision to expand our business and become leading experts in our field. We are excited to have a great new team of people on board who share our values and our focus on putting the customer at the heart of everything that we do”.
We will begin to work closely with Terry and his team as we integrate the business and I would like to wish Brian and Gabrielle a very happy retirement and promise to protect and grow the business that they have built”
Brian Pierce, Managing Director said "The team are excited to continue their journey under the Arachas brand. We have watched the rise of Arachas over the last couple of years and we feel that they are a good strategic fit for further development of the business. This deal will allow BJP to provide our customers with more products and expertise while offering fantastic opportunities for all our staff.”
Terry Pierce, “We have exciting plans for the future, and we look forward to capitalising all the opportunities that lie ahead with the backing of such a well-respected Group”