Tipperary firm SYS acquires Dublin-based financial services group

The acquisition will bring SYS Group's total asset value to over €315m

Tony Delaney, CEO of SYS Group and Don McKenna, Founder of Donald P McKenna and Associates.

Tipperary-based financial services group, SYS has acquired Dublin-based Donald P McKenna & Associates for an undisclosed amount.

Specialising in financial and retirement planning, the Dublin firm was founded in 1986 by Don McKenna, who will continue in his role as a financial planner with the business.

The firm manages €15m in funds, bringing the total value of SYS Group's overall assets to over €315m.

The acquisition is the latest expansion for the Nenagh-based firm, which last year entered a strategic partnership with another Dublin-based group, PGM Financial Services, with SYS absorbing over €40m in PGM funds.

Last year also saw SYS increase its annual revenue by over 33%, rising by €710,000 in December, bringing total revenue to over €2.9m.

The firm also announced eleven new roles, increasing its employee headcount to 40 in 2022. Since its inception, SYS Group has grown its client base to over 6,000, with a headcount set to increase further to 50 employees by the end of this year.

In 2022, the group established SYS Tax, the company’s newest advisory service, adding to the company's offerings which include SYS Private, Financial Planning, Mortgages, Tax and Millennial Money Coach.

SYS Group was founded in 2015 by CEO, Tony Delaney, and has since expanded with offices across Dublin, Cork and Waterford as well as its headquarters in Nenagh, Tipperary.

Speaking on the acquisition, Mr Delaney said it will significantly enhance their Dublin presence, with the expertise of Donna P. McKenna & Associates making an excellent addition to SYS Group.

“I am extremely pleased to be working with SYS Group," said Don Mckenna. "I believe our clients will be very well served by this deal and I look forward to seeing what we will accomplish together.”