Deloitte Ireland’s M&A Team acts as lead advisor to Sovereign Capital on MBO of insurance broker Arachas
Deloitte Ireland’s M&A Team is pleased to announce it has acted as lead advisor to Sovereign Capital in their support of a management buy-out of Arachas Corporate Brokers (“Arachas”), a leading insurance brokerage operating in Ireland. The transaction is subject to approval from the Central Bank of Ireland.
Established in 2004, Arachas is a specialist corporate, SME & affinity scheme brokerage delivering exclusive insurance facilities and financial planning services to the Irish business community. The business, which employs over 130 people in its offices in Dublin, Cork and Waterford, will continue to be led by CEO Donal Cronin and supported by his management team.
Sovereign Capital is a UK private equity Buy & Build specialist, and its investment will support the management team to further grow and develop the business through a strategy of Buy & Build. Deloitte provided lead M&A advisory services, debt advisory services, tax and financial due diligence and regulatory due diligence to Sovereign Capital on this transaction through a combination of our Dublin and London teams.
Anya Cummins, Partner, commented, “We were delighted to work with Sovereign and their other advisors on this transaction. This represents a great example of an investment by an international private equity fund in a growing domestic Irish business, and we were pleased to be able to support Sovereign with a cross-border, multi-specialist team. We wish Sovereign and the management team the very best of luck in the exciting next phase of this story”.
The M&A team are part of the Deloitte Ireland Corporate Finance team which comprises 11 partners and 165 staff covering Mergers & Acquisitions, Debt and Capital Advisory, Restructuring Services and Forensics. The M&A team works closely with our international offices, ensuring we can provide specialist sector input and international reach to our clients, on both the buy-side and sell-side.
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Deloitte’s Arachas corporate finance advisory client team was headed by Anya Cummins and John Gregson provided Debt Advisory.
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