Filled with pride and excitement, is how Aston Lark Limited group chief executive Peter Blanc (pictured) describes the overall feeling at the Corporate Chartered Insurance Broker now that it will soon become part of Goldman Sachs.
For an undisclosed amount the merchant banking division of the global investment bank is snapping up Aston Lark, whose senior management team is staying put while the company sustains its growth. The transaction will close after receipt of antitrust approval as well as the green light from both the UK’s Financial Conduct Authority and the Central Bank of Ireland.
“We’re delighted to be able to announce that we’ve now exchanged contracts with Goldman Sachs,” stated Blanc, who last week took part in a waxing challenge for Insurance United Against Dementia at the annual British Insurance Brokers’ Association conference and exhibition.
“When this deal completes it will secure our independence for the foreseeable future to enable us to continue acquiring like-minded brokers and employee benefits advisors to create the UK’s most trusted Chartered Insurance Broker.”
The broking boss added: “We’re extremely proud of the business that we’ve built, and all of our management team are very excited about what the future holds. Our ambitions for the business can now be realised over the coming months and years and I’ll be talking to brokers that want to share in this journey.”
Commenting on the Goldman Sachs acquisition, merchant banking division financial services investing head Michele Titi-Cappelli pointed to the impression made by Blanc’s camp.
“We have been impressed by what Peter Blanc and the Aston Lark team have achieved, and we are excited to be supporting the company’s growth ambitions both organically and via acquisitions,” said Titi-Cappelli.
Meanwhile Bowmark Capital, which the broker’s chief executive thanked for having been “a wonderfully supportive investor over the last four years,” also had nothing but nice words.
“We have greatly enjoyed working with Peter and his team to deliver on the company’s growth ambitions,” noted Bowmark partner Julian Masters.
“Thanks to its continuous focus on innovation and excellence, and its ability to identify, acquire, and successfully integrate complementary businesses, we believe Aston Lark is well-positioned to continue its strong track record of growth.”
