Aston Lark buys Ingram Hawkins and Nock
Deal is the broker's first since the merger of Aston Scott and Lark in June 2017.
Aston Lark has bought Stourbridge-based Ingram Hawkins and Nock (IHN).
Established in 1974, IHN has over 2,500 clients and commission and fee revenues of around £1.6m of which 90% is commercial lines.
According to Peter Blanc, group chief executive officer of Aston Lark, the whole IHN team will move across to Aston Lark.
Merger
This is Aston Lark’s first acquisition since the merger of the Aston Scott and Lark companies in June 2017.
The broker, which rebranded to Aston Lark earlier this year, noted it had several more deals in the pipeline for 2018.
Blanc has previously told Insurance Age that the company is looking to establish itself as a market consolidator and that Aston Lark’s majority investor Bowmark Capital has an appetite for new acquisitions.
The group CEO has also stated that the merger has given the business a stronger focus on specialisms, including HNW, employee benefits, renovation and motor trade.
Opportunities
Following the acquisition, Blanc commented: “The businesses have a lot in common; both are Chartered Insurance Brokers, independent and client focused.
“We see a number of good opportunities to support the expansion of the niches and schemes that IHN have, as well as their plans to develop in their local region.”
Liz Foster, managing director of IHN, continued: “We have been talking to Aston Lark and building foundations over the course of the last year and we look forward to becoming part of a larger independent broking group.
“We are aiming to be an integral part of Aston Lark’s growth plans in the Midlands area, working closely with our new colleagues in Derby.”
She concluded: “This is a very exciting time for IHN and we look forward to meeting our new colleagues in the wider Aston Lark business.”
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