SME broker Ardonagh Advisory to acquire UK-based RK Henshall

Ardonagh Advisory, Ardonagh Group’s SME broking platform, has agreed to acquire UK chartered insurance broker RK Henshall & Co. Ltd.

Financial details of the deal, which is subject to regulatory approval, were not disclosed.

Established in 1976, RK Henshall & Co. specializes in commercial insurance and has a range of high quality schemes through its Air Underwriting division. With 35 employees, RK Henshall is based in Sandbach, Cheshire.

Upon completion of the transaction, directors John Henshall and Allen Simpson will remain in the business, with Henshall continuing to lead the business, reporting to Stephen Boyd, Northern Managing Director of Advisory Insurance Brokers.

As part of Ardonagh Advisory, RK Henshall & Co. Ltd. will join over £1bn broker GWP UK with over 2,600 people in the UK.

“As a second generation family business, selling to a larger 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 customers,” commented Henshall. “In Ardonagh we join forces with a dynamic and growing business, delivering even greater opportunities for our people and customers.”

“We look forward to welcoming RK Henshall’s team to Ardonagh. It strengthens our presence in North West and South Cheshire with an outstanding client-focused team with strong links to clients and their community,” said Richard Tuplin, CEO of Advisory Insurance Brokers Ltd.

M&A Director Joe Conway added: “Having known John and Allen for several years, it is a pleasure to see them join Advisory. RK Henshall ticked all the boxes for us: a high quality and motivated team, a committed leader and deep trusting relationships with its clients.”

London-based Ardonagh Advisory Broking Holdings is comprised of the brands Bravo Networks, Footman James, Hera Indemnity, Geo Underwriting, Lorega, Towergate, Towergate Health & Protection, Thompson & Bryan and Usay Compare.

Source: Ardonagh Group

TOPICS
M&A agents