The deal comes six years after Bank of Ireland sold the business, which was its corporate finance arm, to management in a deal which is understood to have valued the firm at €10m.

Following the acquisition by DC Advisory, clients of IBI will gain access to international buyers and assets, as well as a pool of almost 700 bankers in 23 locations.

IBI will also work with DC Advisory experts across 11 industry verticals, include tech, healthcare and real estate.

“Since its inception nearly 60 years ago, IBI has been the pre-eminent Investment banking advisory business in the Irish market,” IBI Corporate Finance and DC Advisory Ireland chief executive Tom Godfrey said.

He added that the leadership team had been focused on opportunities to grow the business in partnership with an international advisor.

“A genuinely integrated international platform is hard to find, but essential to make a difference for our clients,” he said. “In DC Advisory, we’ve found a truly global team with genuine depth of expertise.”

DC Advisory UK chief executive Richard Madden said that Ireland is an exciting market for the international investment bank.

“IBI has a unique reputation in the market, and we look forward to complementing their talent and relationships with our sector expertise and international reach,” he added.

Figures prepared for this newspaper last month ranked IBI Corporate Finance as the busiest M&A advisor in the Irish market in the first nine months of the year, despite strong competition from larger professional services firms and global investment banks.

IBI Corporate Finance, which was established in 1966, employs 28 staff at its office in Dublin city. It provides advice to public, private and semi-state companies on strategic actions such as disposals, growth capital, debt advisory and restructuring and strategic projects, as well as deal making.