Why we invested
The UK’s corporate and SME broking market was highly fragmented, with over 3,000 active regional brokers. There was considerable scope for consolidation, with underwriters increasingly preferring to deal with fewer, larger brokers. This was an opportunity for Bowmark to help Aston Lark accelerate its acquisition-led growth strategy.
Bowmark first invested in the company in May 2015, realising this investment via a sale to Goldman Sachs in 2019 – at which time we reinvested to support the continued growth of the business. During Bowmark’s period of investment, the company successfully completed a total of 55 bolt-on acquisitions, as well as the transformational merger of Aston Scott and Lark in 2017. Whilst pursuing this expansion strategy, Aston Lark continued to deliver the highest standard of service for its clients, which was recognised by a number of industry awards. During this time, it also grew its employee numbers eight-fold to 1,600 people.
In 2022, Aston Lark was acquired by Howden, the international insurance broking group.
Peter Blanc,Group CEO