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Sector: Insurance Broking

Country: Ireland

Investment date: July 2017

Transaction type: LBO Financing

Instrument: Unitranche

Ownership: Sovereign Capital

Arachas is the largest independent insurance broker in Ireland. Created in 2004, the company developed a focus on providing commercial non-life insurance to Irish SMEs / owner-managed businesses. Sovereign Capital acquired a majority shareholding in Arachas from its founder-managers in July 2017. The transaction was supported by a first-ranking senior secured term loan arranged by FADL, which incorporates an uncommitted acquisition line to be drawn in relatively short order to finance a highly-accretive and visible buy-and-build strategy.