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 18 regional offices and serves approximately 100,000 customers placing £300m of 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 June 2015, supporting a management buy-in team led by Peter Blanc, who was previously CEO of the UK commercial business of Arthur J. Gallagher. Since then, the company has completed six bolt-on acquisitions and, in September 2017, merged with Lark Group to create Aston Lark, the fifth largest chartered insurance broker in the UK.Website: astonlark.com Read more about our Business & Financial services strategy
Bowmark’s ability to help us source and execute acquisitions will be pivotal in enabling us to deliver on our growth objectives.Peter Blanc,