Wednesday April 1, 2020

Irish insurance broker sells majority stake for €25m

Arachas did the deal with British private equity firm Sovereign Capital

Ian Guider

Markets Editor

@ianguider
12th February, 2017
Chief executive Donal Cronin

Arachas, one of the country’s biggest commercial insurance brokers, has sold a majority stake in the company for more than €25 million.

Arachas, which has three offices and employs about 130 people, sold the stake last week to British private equity firm Sovereign Capital. The company plans to use the investment to expand.

It is understood that several senior members of the company’s management are cashing out of Arachas as part of the deal...

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