News

Ardonagh buys Arachas and Bravo Group as it completes £2bn debt raise

By 2020-07-15T10:05:00

David ross

The independent broker bought the two businesses for a combined value of £550m

The Ardonagh Group has announced the completion of a £2bn debt raise alongside the purchase of Irish commercial broker Arachas and Bravo Group, which operates a network service and acquisition platform.

Ardonagh aims to use Arachas to boost its retail insurance presence overseas, particularly within the European Union (EU). Bravo Group, on the other hand, will equip Ardonagh with three new brands – Broker Network and Compass, which both provide network services for regional brokers, as well as Ethos Broking, an acquisition platform focused on the UK regional insurance market.

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