Ardonagh Advisory acquires insurance broker and targets more deals
Fri, 07 Jul 2023 | BUSINESS SALE
Ardonagh Advisory, a group of SME broking and advisory businesses, has unveiled its latest acquisition with a deal for PB Curran, a family-run broker providing commercial, farming, landlords and private client insurance.
PB Curran, which was founded in 1961, has a team of close to 40 staff across offices in York, Middlesbrough and Ossett. Post-acquisition, the company will join Ethos Broking, strengthening its presence in Yorkshire alongside existing brokers Schofield, Lockyer and BSIS.
Richard Tuplin, who leads Ethos Broking and serves as CEO of Advisory Insurance Brokers Limited (AIBL), said: "PB Curran's long trading history, its diverse specialisms, and its access to a range of high-quality and competitive insurance products, will prove beneficial to our existing proposition, both within Ethos and the wider Ardonagh Advisory platform.”
Following completion, Tuplin will lead PB Curran alongside current director Edward Curran (son of founder Patrick Curran) and Ethos Broking regional managing director Alan Summer.
Edward Curren said that PB Curran’s decades of experience and longstanding relationships with clients meant that “it was incredibly important to make the right decision” regarding the firm's future. He added that: "The opportunity presented by Ethos was hugely compelling, and we know that we will be able to continue to the run the business in a way that completely aligns with our values."
Following the acquisition, Ardonagh Advisory’s Chief Commercial Officer Phil Bayles said that the company was “always on the look-out for great businesses that can bring something a little different or enhance our existing offer.”
Regarding the firm’s ongoing M&A plans, Bayles added: "A key factor for us is around finding those businesses that share our ambitions and ways of working so that we can continue to collaborate across Ethos and the wider Ardonagh Advisory platform. We're looking forward to welcoming even more businesses like PB Curran into the fold, so that together we can explore even greater opportunities for growth."
Read about the increase in professional services M&A.
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