Apex Risk Advisors Limited acquired by Arachas Corporate Brokers Limited
Apex Risk Advisors Limited (“Apex” or “Apex Insurance”) has been acquired by Arachas Corporate Brokers Limited (“Arachas”).
Apex Insurance is a Cork-based independent insurance broker providing quality services and products for their predominately commercial customer base. Apex is a specialist in delivering business insurance solutions to SME businesses customers offering an extensive range of products and services.Theo Hoare, Apex Founder commented:
“David and Patrick at PKF were excellent throughout the process. With their advice and expertise, we were very happy we achieved the best outcome for our employees and clients. Their support and guidance enabled us to make the right decisions. Joining the Arachas Group will bring strength and security for the future. I would highly recommend PKF.”Alan Miller, Regional Director for Arachas’ south region said:
“We are delighted to have been able to attract Apex Insurance to join the wider Arachas family. This will significantly strengthen our scale and presence in Cork and its hinterland.”
PKF acted as lead corporate advisors to Theo Hoare and Apex supported by Frances Hegarty (France Hegarty & Co). Eversheds Sutherland LLP acted as legal advisers to Arachas while H.J. Hegarty acted for Apex. Mazars provided both financial due diligence and tax due diligence to Arachas.David Lucas, Partner PKF said:
“We are really pleased to have acted for Theo and Marie on their sale to Arachas. They are great people and have built a great business. We would like to wish them both continued success in the wider Arachas group.”
About Apex Risk Advisors Limited:
Established in 2011, Apex has grown from a one-person operation to a successful business that is a specialist in commercial insurance, providing services and products to customers in construction, transport, property and other sectors.
About Arachas Corporate Brokers Limited:
Arachas, which means insurance in Irish, is an insurance broker headquartered in Cork, which was established in 2003. Arachas was bought last year by UK insurance provider Ardonagh Group, one of the most active acquirers in the Irish broker market. The business has over 100 employees and offices in 11 counties across Ireland, including Dublin, Galway, Limerick and Donegal. Arachas reported turnover of €46.51m in FY21.