Sagicor Syndicate, a provider of financial services, has acquired Byrne & Stacey Underwriting (BSU) for an undisclosed sum.

Sagicor Syndicate, a provider of financial services, has acquired Byrne & Stacey Underwriting (BSU) for an undisclosed sum.

The deal secures BSU’s underwriting business and will enable Sagicor to develop other products for distribution through BSU’s brokers.

BSU’s Paul Byrne said: “The directors have worked hard to build a solid business and now is the right time for a larger entity to take it to the next level.”

Led by corporate partner Graham Spitz and assisted by corporate associate Chris O’Connor, Salans provided legal support to the vendors.

The transaction was introduced to Salans by O’Bryne & Kennedy LLP, which provided financial advice. The transaction is one of a number of deals that Salans has completed for owner-managers this year.