Sherry FitzGerald Group [‘Sherry FitzGerald’ or ‘the Group’], Ireland’s leading property advisory firm, is pleased to announce its acquisition by CastleGate Investments [‘CastleGate’], a growth focussed family office, led by Roy Barrett on behalf of serial entrepreneur, Tommy Kelly.
Following transaction approval from the Central Bank of Ireland, CastleGate has acquired 100 per cent of the share capital of Sherry FitzGerald for an undisclosed sum. This acquisition is part of a broader investment by CastleGate to support Sherry FitzGerald’s ambitious growth strategy through investment in its people, its standout brand, and its highly regarded technology offerings across property and financial services.
Mark FitzGerald the Group’s founder and former majority shareholder has been appointed Strategic Adviser to the Board, which will be chaired by Roy Barrett, CEO of CastleGate Investments. Steven McKenna will remain as Group CEO alongside his entire senior management team.
Commenting, Mr McKenna said, “I am delighted that we are starting a new chapter with such a dynamic and forward-thinking investor. CastleGate Investments share our ambition for the future and supports our commitment to the highest standards of service in the industry. As a former adviser to the company, Roy understands the sector, the business and its professional ethos and ambition for its clients.”
Roy Barrett, CEO of CastleGate Investments, and the new Group chairman commented, “We are excited to invest in Sherry FitzGerald, one of the foremost brands in the country and one that has earned the respect and trust of consumers nationwide over many decades. Building on its success to date we see great scope for incremental growth and added value services for Sherry FitzGerald customers alongside excellent career progression opportunities for Group and franchisee colleagues. We’ve been very impressed by the management team and their vision for the future, and we are delighted to be part of that journey.”
Outgoing chairman and founder of Sherry FitzGerald Group Mark FitzGerald added, “In the forty years since the business was founded, we have retained the mindset of a challenger brand in terms of what we do and how can we do it better. Our excellent management team embraces that approach as does Tommy Kelly, Roy Barrett and CastleGate. Irish housing is a complex subject, and we were keen to find investors who had a curiosity to improve the experience for consumers, rather than just follow economic activity. When we sat down with Tommy and Roy we found like minds.”
CastleGate Investments is a private family firm led by former Goodbody CEO, Roy Barrett. It manages a family fund on behalf of Tommy Kelly, the CEO and founder of ESW). CastleGate holds a global investment portfolio which is invested across both public and private markets, often with a technology bias. It recently led a €21 million funding round for Dublin-based IT security company CWSI.
For any further information, please contact:
Jill O’Neill, PR Director, Sherry FitzGerald Group Ph: 01 237 6500 / 086 252 3277
Paul Bradley, Director FleishmanHillard Ph: 085 174 4281