SME broking platform Ardonagh Advisory has reached an agreement to acquire RK Henshall & Co Limited, a chartered insurance broker based in Sandbach, Cheshire.
The firm, which was founded in 1976, employs 35 people and specialises in commercial insurance, including a number of high-quality schemes through its Air Underwriting division.
The acquisition, which is subject to regulatory approval, will see directors John Henshall and Allen Simpson remain with the business. John Henshall will continue to lead the company, reporting to Stephen Boyd, managing director of Advisory Insurance Brokers in the North.
RK Henshall & Co. Limited will become part of Ardonagh Advisory, a group with over £1 billion in gross written premium (GWP) and more than 2,600 employees across the UK.
John Henshall (pictured above) stated that selling the family business was a significant decision and that it was crucial to find a partner who understood and supported their culture.
He also noted that joining Ardonagh would enhance the firm's proposition for clients and provide greater opportunities for both employees and clients.
Richard Tuplin, CEO of Advisory Insurance Brokers Ltd, expressed enthusiasm for welcoming the RK Henshall team to Ardonagh, highlighting that the acquisition strengthens the group’s presence in the North West and South Cheshire with a team that has strong client and community ties.
Joe Conway, M&A Director at Ardonagh, commented that it was a pleasure to see John and Allen join Advisory. He noted that RK Henshall met all the criteria for acquisition, citing the team's quality, motivated leadership, and established client relationships.
Back in June, the SME broking platform has also announced the acquisition of Lancashire-based BP Insurance Brokers (BPIB), a regional and specialist personal lines broker.
Established in 1958 in Blackpool, BPIB offers both commercial and advised personal lines insurance. It has become a prominent high street insurance broker on the Fylde Coast, with additional branches in Cleveleys, Lancaster, and St Annes.
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