Sovereign Capital-backed Arachas completed the acquisition of Murray & Spelman.

Sovereign Capital-backed Arachas, a Dublin-based broker, completed the acquisition of Murray & Spelman, a financial services firm. Financial terms were not disclosed. "This is a great time for Arachas as the Group continues its drive for growth and expansion. Murray & Spelman is a strong strategic fit for Arachas and we share similar ambitions, values, together with a culture of high professional standards. We continue to look for opportunities to develop the Group both organically and through continuing to be the acquirer of choice in the exciting Irish insurance market," Donal Cronin Arachas CEO.