Merrion Capital, an Ireland-based provider of corporate finance advisory and funds management services, has been reportedly put up for sale.
Quoting unidentified sources, Irish Independent reported that deal could worth 10 million.
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According to the report, Davy Stockbrokers, Cantor Fitzgerald, Brewin Dolphin and in-house wealth management head Shane Nolan may bid for Merrion Capital.
Nolan may have first refusal on bidding for the business, according to the publication.
The report further suggests that the firm’s chief executive John Conroy is leaving the business.
Merrion Capital is 100% owned by Merrion Capital Holdings, which in turn is majority owned by management and staff and has Allen & Co and Teneo Capital as strategic investors.
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By GlobalDataThe report by Irish Independent also suggests that Allen & Co, which has a 20% stake, may exit.
