Ardonagh Advisory has today revealed its acquisition of Stoke-on-Trent-based Pace Ward – a leading local broker serving large commercial clients, prestige and high-performance cars and high net worth (HNW) clients.
Under the terms of the deal, Pace Ward will join Ethos Broking, complementing Ethos’ existing partner brokers, which include Chambers & Newman, Hugh J Boswell and Guy Penn.
Established in 1993, Pace Ward is led by MD Jeremy Pace who has over three decades of experience in providing bespoke solutions for clients. Pace will continue to run the business, working with Ethos Broking regional MD Alan Sumner and MD Chris Shortland.
Commenting on the deal, Shortland highlighted that Pace Ward is a well-respected community broker, and that its specialism in bespoke commercial insurance solutions and HNW motor is a great fit for Ethos, and further complements the wider Ardonagh Advisory offering.
“As a longstanding member of Compass, which is part of Bravo Networks, Jeremy and the rest of the Pace Ward team are well known to us for their expertise and dedication to providing a first-class service to clients,” he said. “After many years as a valued network member, we’re pleased to now count Pace Ward as an Ethos Broking partner and look forward to working with them to further grow in the Staffordshire area.”
Also discussing the deal, Pace noted that joining Ethos Broking offers Pace Ward a “great opportunity” to grow its business by being part of a wider network of partners offering a whole of market approach.
“Ethos has a great reputation,” he said, “and the values represented within the business and the wider Ardonagh Advisory platform, where client service comes second to none, entirely reflects the culture we value so highly at Pace Ward.”
Phil Bayles, chief commercial officer at Ardonagh Advisory said: “The acquisition of Pace Ward today is just one part of our impressive pipeline of M&A, of which we’ll be sharing more in the coming weeks and months. Jeremy and the team are a fantastic addition, and we know there will be many exciting opportunities to explore together. We’re actively looking to engage similar like-minded businesses and are open to conversations with interested parties.”
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