The Ardonagh Group the UK’s largest independent insurance broker and underwriter employing over 5,000 people across the country, today announces that it has exchanged contracts to purchase Carole Nash, the Altrincham-based motorcycle insurance broker.
The Group was formed in May this year by bringing together leading insurance brands Autonet, Towergate, Chase Templeton, Direct Group and Price Forbes under common ownership.
Following the acquisition, Carole Nash will join Autonet, a leading van insurance broker employing over 650 people across offices in Stoke-on-Trent and Manchester.
Carole Nash is the largest motorcycle insurance broker in the UK, and is a specialist brand renowned for quality and service. In 2016, the company reported income approaching £29 million.
Carole Nash employs 400 people at its headquarters in Altrincham, with a further 30 in Dublin. The company, a well-loved and respected brand, has been based in South Manchester since its formation in 1985 by founder Mrs Carole Nash OBE.
Commenting on the news today, CEO of The Ardonagh Group, David Ross, said:
“Carole Nash is not only a pre-eminent brand and market leader; it’s also a hugely successful business in the North West and a significant employer in the region. We have admired the business for a long time and are really happy to be welcoming them into the fold as another hugely important addition to the Ardonagh Group family.”
David Newman, CEO of Carole Nash added:
“As a management team, our plans to keep building our brand and market share mean we have been looking for a home where we can build on the reputation we have fostered over many years, ensuring longevity of our much-admired service and expertise.
As we start to investigate the opportunities to collaborate with like-minded businesses within The Ardonagh Group such as Autonet and to build on our individual strengths within a market we collectively dominate, I feel sure we will create a very special opportunity for both our people and our customers.
A commitment to remain in our Altrincham and Dublin locations means that this news today is business as usual, only better, signifying a real understanding and appreciation of our Company, our values and of our loyal client base. We can’t wait to get started.”
Ian Donaldson, CEO of Autonet also said:
“Carole Nash is a fantastic company and we fully intend to embrace the pioneering work they have done in the motorcycle market. The ethics which underpin the brand, backed by specialist knowledge and genuine passion make this one of kind business genuinely unique.
We’re really looking forward to getting the teams collaborating on creating a unique and formidable force in UK motor insurance broking.”
The Ardonagh Group employs approximately 1,500 people in approaching 30 offices across Manchester and the North West of England in a variety of roles across insurance broking, underwriting and support services.