In a fitting start to the New Year, a dual investment in two Altrincham-based brokers has seen Ataraxia and Minority Venture Partners (MVP) complete the purchase of a minority stake in Alan Stevenson Partnership (ASP) and Seacombe Insurance Brokers (Seacombe).
As a result of the deal the combined management team of Peter and Ian Stevenson from ASP, and Chris Hankey, Nick Dolan and David Howkins from Seacombe, will look to strategically drive the brokerage forward, with support from the Ataraxia/MVP management team. As part of its growth plans, the brokerage is already in discussions with another local broker regarding joining the business.
Director at ASP, Peter Stevenson, noted that the deal is complementary on a variety of levels and offers the chance to face the expected challenges of the coming years while taking advantage of opportunities. The Seacombe team complements the ASP team, he said, and everybody involved is excited to be working together.
Meanwhile, Chris Hankey, director at Seacombe said: “I am proud of the successful business we have built over the last 50 years and it was important that we worked with a business that shared our commitment to strong client relationships. With our new combined succession plan and the backing of Ataraxia/MVP we are perfectly placed to further build on the existing success of both businesses.”
Commenting on the deal, Adam Boakes, MD of Ataraxia added that it is the operating model of Ataraxia that has enabled the two brokers to combine their businesses and and their skillsets, in a bid to create a new local powerhouse. This was a complex deal, he said, but the aspirations of both businesses were well understood and the merger has helped them achieve these ambitions. Boakes said Ataraxia is looking forward to supporting the newly combined management team through ongoing intellectual and capital support.
