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bridge.eu.com

Stage

Acquired - II | Acquired

About Bridge Group

Bridge Group has expertise in turnaround management, training and development, recruitment, quality management, and metrology. Its key markets are automotive, aviation, plant machinery, white goods, and general manufacturing. In October 2020, Bridge Group was acquired by MJ Hudson. The terms of the transaction were not disclosed.

Bridge Group Headquarters Location

1625 Warwick Road Knowle

Solihull, England, B93 9LF,

United Kingdom

+44 01564777740

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Latest Bridge Group News

Windfall worth €4.3m for Irish finance duo after sale of funds services firm

Aug 12, 2022

Veteran lawyer David Dillon and funds expert and former Ireland rugby player Paul McNaughton are set to split an immediate €4.3m windfall from the 2020 sale of their Irish funds services firm after it performed much better than its new UK owner had anticipated. UK-listed financial firm MJ Hudson has been forced to raise £9m (€10.6m) on the stock exchange to help fund an earn-out payment for the Dublin-based Bridge Group. It said the assets under management at Bridge Group have soared to more than €70bn from €6bn in the space of less than two years, while its revenue has doubled to €8m. The Irish company provides specialist support services to the funds sector, offering regulatory compliance, domiciliation and risk services and third-party management services. The Bridge Group was spun out of law firm Dillon Eustace in 2016 and acquired by Mr Dillon and Mr McNaughton. Mr Dillon, who was a founding partner at Dillon Eustace, resigned at the time from the law firm to take on a non-executive role at Bridge Group. Prior to working at The Bridge Group, Paul McNaughton spent a decade with the IDA helping to lure foreign investment. He subsequently went on to establish Bank of Ireland’s funds business in the IFSC, before joining Deutsche Bank to establish its funds business in Ireland. A former Ireland rugby international, Mr McNaughton won 15 caps between 1978 and 1981, and later became Ireland team manager working alongside head coach Declan Kidney. MJ Hudson completed its acquisition of Bridge Group in early 2021. It said the purchase of the Irish firm would build on the UK group’s specialist funds operations in London, Luxembourg and Guernsey and add a strategically important geography to its network. The purchase price comprised an initial fixed consideration of €2m in cash, with deferred and additional earn-out consideration of up to €10m, payable over a two-year period. That additional consideration is to consist of 80pc cash and 20pc shares. In the 12 months to September 2020, Bridge Group generated earnings before interest, tax, depreciation and amortisation of about €500,000 on revenue of €4m. Revenues were expected to grow 30pc in the following financial year. MJ Hudson said this week that the growth at Bridge Group in the past year has significantly surpassed its estimates at the time of the acquisition. It added that under the terms of Bridge Group’s regulatory licence, MJ Hudson has had to accelerate its investment in the Irish company’s regulatory capital by €6.1m versus a lower amount than envisaged in the original business plan. “As a result, Bridge Group has reached the maximum regulatory capital threshold of €10m ahead of plan and will therefore not be required to add to its regulatory capital as it attracts further clients and adds incremental assets under management,” it added. That regulatory capital has to be ringfenced. Business Newsletter

  • Where is Bridge Group's headquarters?

    Bridge Group's headquarters is located at 1625 Warwick Road, Solihull.

  • What is Bridge Group's latest funding round?

    Bridge Group's latest funding round is Acquired - II.

  • Who are the investors of Bridge Group?

    Investors of Bridge Group include MJ Hudson and TRIGO Group.

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