Kentz €320m buyout of US firm boosts EY deal fees
The €320m buyout of US shale outfit Valerus by Tipperary oil services group Kentz, was the largest deal put together by the Ernst & Young corporate finance team this year.
EY's Dublin office, fronted by Graham Reid, raised finance from a club of six international banks including Lloyds, BNP and Barclays for the deal. EY's transaction services practice has had a bumper run with fees up nearly 40 per cent in the last two years. Highlights have included advising on major transactions including Glanbia's recent €20m buyout of Wexford Creamery and the Xtra-vision sale to Hilco.