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Aston Lark confirms bankers appointed

Aston Lark confirms bankers appointed

The enterprise, at present funded by Bowmark Capital, is in search of further funding to safe its long run acquisition pipeline.

Aston Lark Group CEO Peter Blanc has confirmed that the dealer has employed Macquarie and Livingstone to assist generate extra personal fairness funding within the enterprise.

Insurance coverage Insider reported at this time (eight January 2019) that the 2 banking companies had been employed by the agency.

Blanc commented: “We’re not in a rush. Work in all probability gained’t begin till the top of Q1 this yr.”

The CEO stated that Aston Lark has a variety of acquisitions within the pipeline that are all funded by Bowmark. Nevertheless extra funding is required long run for offers.

Buys in 2018 included Dover-based Pharos Insurance coverage Brokers in September, Maidstone-broker Michael James Insurance coverage & Property Providers in July and Ingram Hawkins and Nock in Stourbridge in March.

The most recent deal for the enterprise might be introduced this week.

Rumours that the dealer, which was shaped following the merger of Aston Scott and Lark in 2017, might be on the market in 2019, started on the very finish of 2018.

Final week Blanc denied that the enterprise was available on the market however admitted the corporate was eager on additional personal fairness relationships.

Right now he defined to Insurance coverage Age that the bankers have been appointed and reiterated that his most popular choice is to seek out an investor to take a seat alongside Bowmark slightly than a alternative.

Bowmark got here on board in 2015 when Blanc led an MBO of Aston Scott.

“It [Bowmark] has all the time been a supportive house,” he said.

Blanc additionally repeated the message that Aston Lark is in no rush.

“We’re in no hurry. If it ends by the top of this yr that’s good. If it’s 2020 that’s good too.”

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