Team members involved:
Aston Lark is a chartered insurance broker with specialisms in commercial insurance, private client insurance and employee benefit advice. It operates from 30 regional offices and serves over 140,000 customers, placing in excess of £430 million of annual premium. The company distributes insurance products on behalf of most of the leading UK insurers, and focuses on the provision of complex policies which require a high level of service.
Since its inception, the company has pursued a successful buy-and-build strategy, having made over 40 bolt-on acquisitions. This was an opportunity for Bowmark to help the business accelerate its acquisition-led growth strategy. 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.
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 19 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 development of the business.Website: astonlark.com Read more about our Business & Financial services strategy
Bowmark’s ability to help us source and execute acquisitions has been pivotal in enabling us to deliver on our growth objectives.Peter Blanc,