US financial and risk advisory firm Kroll has acquired Kirby Healy, the Dublin-based corporate insolvency practice.

As a result of the deal, Kroll expects to significantly expand its restructuring capabilities and double the size of its team in Ireland.

Kirby Healy staff will be absorbed by Kroll's existing operations, which offer services in fraud and white-collar crime investigations, forensic accounting, litigation support, expert testimony, matrimonial dispute work and shareholder dispute resolution.

"We are delighted to welcome Kirby Healy to the team today whose expertise will be instrumental as we continue to grow in Ireland and across Europe," said Declan Taite, managing director at Kroll.

"Geopolitical tensions are no doubt causing huge uncertainty for Irish businesses, in addition to a wide range of increasing business costs," he continued.

"At Kroll, we're noticing greater proactiveness and much earlier engagement from business owners in seeking professional advice to help address financial distress, as well as ensure timely and transparent engagement with their stakeholders.

"The Kirby Healy team, with their deep industry knowledge and strong track record, will allow us to offer clients a broader set of services and deeper bench strength."

The acquisition is part of Kroll's broader growth strategy in Ireland, which is aimed at meeting increased demand for sophisticated restructuring and advisory services.

The deal brings Kroll's number of restructuring experts in Dublin to 26 and its wider Irish team to more than 70, offering services in valuation, real estate advisory, compliance and regulation, cyber and data resilience and construction services.

Brent Tomlinson, president of risk advisory at Kroll, said: "Kirby Healy's deep local expertise perfectly complements and strengthens Kroll's advisory capabilities in Ireland and internationally.

"This strategic investment in our leading restructuring practice further demonstrates Kroll's commitment to innovative solutions for client needs and positions us as the preferred advisory partner in today's complex business environment."

Kirby Healy was established by Myles Kirby and John Healy in 2016 to fill a gap in the market for independent firms following a wave of consolidations.

Prior to setting up Kirby Healy, both partners worked in Ferris & Associates, where they specialised in insolvency services. Kirby was a partner in Ferris & Associates for 12 years.

Kirby, managing partner at Kirby Healy, added: "Joining Kroll unlocks new strategic growth opportunities for us and enhances our ability to deliver complex mandates locally and cross-border.

"It gives us the scale and global reach to better support our clients - from Irish businesses with international ambitions to multinationals with operations in Ireland.

"Together, we're well-positioned to help clients navigate complexity and unlock value at every stage of the business lifecycle."

Photo: (l-r) Declan Taite, Sharon Barrett, John Healy and Myles Kirby: (Pic: Peter Houlihan/Coalesce)