Ardonagh Advisory, Ardonagh Group’s SME broking platform, has agreed to acquire UK chartered insurance broker R.K. Henshall & Co. Ltd.
Financial details of the transaction, which is subject to regulatory approval, were not disclosed.
Established in 1976, R.K. Henshall & Co. specializes in commercial insurance and has a number of high-quality schemes through its Air Underwriting division. With 35 employees, R.K. Henshall is based in Sandbach, Cheshire.
Upon completion of the deal, directors John Henshall and Allen Simpson will remain in the business, with Henshall continuing to lead the business, reporting to Stephen Boyd, the managing director of Advisory Insurance Brokers in the North.
As part of Ardonagh Advisory, R.K. Henshall & Co. Ltd. will be joining a £1 billion-plus GWP UK broker with more than 2,600 people across the UK.
“As a second-generation family business, selling to a bigger firm was a massive decision. It was really important to find a business that understood and supported our culture, and that would ultimately mean a stronger proposition for our clients,” commented Henshall. “In Ardonagh we’re joining forces with a dynamic and growing business, bringing even greater opportunities for our people and clients.”
“We look forward to welcoming R.K. Henshall’s team to Ardonagh. It builds our presence in the North West and south Cheshire with an outstanding client-centric team with strong ties to their clients and community,” according to Richard Tuplin, CEO Advisory Insurance Brokers Ltd.
M&A Director Joe Conway added: “Having known John and Allen for several years it’s a pleasure to see them join Advisory. R.K. Henshall ticked all the boxes for us: a high quality and motivated team, committed leadership and deep trusted relationships with its clients.”
London-based Ardonagh Advisory Broking Holdings is composed of Bravo Networks, Footman James, Hera Indemnity, Geo Underwriting, Lorega, Towergate, Towergate Health & Protection, Thompson & Bryan and Usay Compare brands.
Source: Ardonagh Group
Topics Mergers & Acquisitions Agencies
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