Why we invested
The corporate and SME broking market is highly fragmented, with over 3,000 active regional brokers, and there is considerable scope for further consolidation, with underwriters preferring to deal with fewer, larger brokers. This was an opportunity for Bowmark to help Aston Lark accelerate its successful, acquisition-led growth strategy.
Bowmark originally invested in Aston Scott in May 2015, supporting a management buy-in team led by Group CEO, Peter Blanc. Since Bowmark’s investment, the team successfully completed a total of 47 bolt-on acquisitions, as well as the transformational merger of Aston Scott and Lark in 2017. Whilst pursuing this expansion strategy, the company continued to deliver the highest standard of service for its clients, recognised by a number of industry awards.
In 2019, the company was sold to Goldman Sachs for an undisclosed sum, with Bowmark reinvesting in order to support the continued development of the business.
Peter Blanc,Group CEO