Aston Lark posts strong 2019 results following acquisition by Goldman Sachs

Broker Aston Lark increased revenue by 25% to £71.6m in 2019 and delivered organic commission and fee growth of 3.4% during the period.

The financial results are the first posted since Goldman Sachs Merchant Banking Division took a majority stake in the business in September 2019. Bowmark LLP also re-invested in the newly created group.

Aston Lark delivered adjusted EBITDA of £26.9m for 2019, up 40% when adjusted to include a full 12 months of acquisitions made in 2019 along with their associated integration benefits.

In 2019 it acquired six businesses. These were: Robertson Low Insurances, Highworth Insurance, Jobson James Insurance Brokers, Buckland Harvester Insurance Brokers, Protean Risk and Wright Group Brokers.

In 2020 it has acquired Isca Barum Insurance Brokers, Incepta Risk Management and Private Healthcare Managers.

This has created a Group that employs over 900 people in 30 offices across the UK and Ireland placing £440m of gross written premium into the insurance market.

Peter Blanc, group CEO at Aston Lark, commented: “We are delighted with the progress we have made and are thrilled to have completed the investment by Goldman Sachs. It is also a great vote of confidence in the Aston Lark team that Bowmark have agreed to reinvest alongside Goldman Sachs.”

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