London-based Aston Lark reported it has acquired Bainbridge Collins Ltd., a Midlands independent insurance brokerage focused on the mid corporate sector.
Led by Cyril Gallagher, Bainbridge Collins was established more than 30 years ago in Birmingham. In addition to offering insurance broking services, the firm also offers a risk management service with guidance on health, safety and loss prevention.
Peter Blanc, Aston Lark Group CEO, said the acquisition enhances his firm’s mid-corporate capability in the West Midlands region.
The acquisition is the 25th for Aston Lark this year. Last week it announced the acquisition of Absolute Products Ltd., based in Leighton Buzzard, England. That was also its 40th deal since its formation in 2018.
Aston Lark, which is backed by Goldman Sachs, has 1,600 employees across more than 55 offices in the UK and Ireland.
Earlier this month, Howden, the London-based insurance broking group, announced an agreement to acquire Aston Lark from Goldman Sachs Asset Management and Bowmark Capital. Financial terms of the deal, which is subject to regulatory approval, were not disclosed. However, according to a Reuters report, the purchase price is 1.1 billion pounds ($1.5 billion).
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