The acquisition boosts the brokers employer benefits offering
Goldman Sachs-backed broker Aston Lark has bought specialist intermediary Private Healthcare Managers (PHM Ltd), it announced today.
The employer benefits specialist business provides private medical and group risk products to SME and corporates clients with a GWP of £4m.
Commenting on the acquisition, Aston Lark chief executive Peter Blanc said: “Employee Benefits, and Private Medical Insurance in particular, is a key growth area for Aston Lark.
”As such I was delighted to meet with Nick [Petty, director] and Chris who clearly share the Aston Lark passion for customer service.
”I’m pleased to welcome them to our growing Employee Benefits practice, and I look forward to seeing them help both existing and new customers with their Group Risk and Private Medical Insurance needs.”
PHM director Nick Petty added: “Our business has grown rapidly in the last few years and, with much acquisition and consolidation in our sector, we have been approached on numerous occasions by larger corporate brokers looking to strengthen their employee benefit proposition.
”We are very excited to join them and their already impressive Employee Benefits division, confident that we have made the right strategic decision for the future of our business and our long-standing and loyal customers.”
PHM is over 25 years old and based in Eastleigh, Hampshire.
In April Aston Lark opened a new office in Cheltenham which will primarily cover Gloucestershire, Herefordshire and Worcestershire, as well as the Midlands and South West.
Its last acquisition was that of Exeter-based independent broker Isca Barum in January this year.