Tipperary businessman Kelly's new company, Consello Group, makes its first investment

The private equity wing of the firm founded by Tipperary businessman and former Tipperary Star journalist Declan Kelly, and which counts American football legend Tom Brady and tennis superstar Serena Williams as partners, has made its first investment which has an Irish link.

Following his departure from Teneo, of which he was a co-founder and which were former sponsors of the Tipperary hurling team, Portroe-born Mr Kelly, 55, set up the Consello Group in New York last year after a short break from the business world.

Consello announced that it has acquired a majority stake in ProSearch Strategies, a provider of tech-enabled legal services, using AI and data science, to enterprise customers, with over 200 employees in Dublin, the US and India.

The transaction, which marks the first investment for Mr Kelly’s Consello Capital, sees the Consello Group acquire a business that has a base at its European headquarters at Regus House, Harcourt Centre, Dublin.

The financial terms of the deal have not been disclosed.

Consello focuses on investing, merchant banking, corporate development and mergers and acquisitions.

“ProSearch has built a reputation as a best-in-class provider of technology solutions to the legal departments of the Fortune 500 and we are thrilled to be a part of their growth journey,” he said about the acquisition.

Mr Kelly is the brother of Tipperary TD Alan Kelly.