Based in Waterford City, MDRB is one of the largest independent insurance brokers operating in the South-East. It is also Arachas’ second major acquisition in Waterford, following the purchase of Hooper Dolan in 2021.

Founded in 2010, MDRB was established by Peter McDonald, Kieran Dwyer, Tom Reddy and Greg Byrne and specialises in commercial insurance to all business sectors, servicing local and countrywide customers. MDRB also provides personal insurance and broker-to-broker services.

All four named partners will remain in the business after the transaction and MDRB’s employees will transition to Arachas and work alongside its existing teams.

MDRB director Peter McDonald said the deal marked the end of an era. "But it is also the start of a new chapter for all in MDRB. We are very much looking forward to joining the Arachas team and we wish to thank both our staff and our clients as we move into this exciting new phase and reassure them of the same reliable and efficient service. 

"This move will only serve to enhance our offering to clients, as we will have access to a broader portfolio of services, expertise and insurance products.”

Arachas chief executive Joey Wynne said: "As one of Waterford’s most successful brokerages, this acquisition represents another milestone for the South-East. This will bring new skills and expertise onboard which will complement how our 150+ workforce in the region can provide the best product and services to our growing customer base in Waterford and beyond”.

Arachas regional director for the South-East Paul Dolan said: “We are delighted to welcome the expertise and experience of McDonald Dwyer Reddy & Byrne Insurances to the Arachas team. A renowned brokerage in Waterford City with a strong specialised portfolio, their existing customers and team members will fit in seamlessly here in Arachas.” 

EY Ireland were lead advisors on the deal providing to MDRB through Partners Ronan Murray and Peter Neville. Mazarz acted as advisors to Arachas.