Mid-market PE firm launches new broker platform with acquisition of Essex broker

European mid-market private equity firm Inflexion has launched a new insurance broker platform and announced that Ascend Broking Group is the first firm to be acquired through the proposition.

Inflexion said Ascend is the first of several broker acquisitions it plans to make through its platform, with the aim of building a group of between four and six regional broking powerhouse hubs across the country.

Ascend, based in Chelmsford, Essex, specialises in commercial lines, healthcare and value-add risk management products.

The deal will see founder Matthew Collins, who previously held senior roles at FMW, Oval and AJ Gallagher, become group managing director of the acquisition platform.

Collins said: “I built Ascend to be different – a client-first independent broker with a team that is passionate about service, innovation and growth.

”We wanted to accelerate our growth and Inflexion stood out as a partner because they aim to build a group that takes the operational burden off brokers’ shoulders empowering us to focus on what we do best. With Inflexion I am helping to build an alternative in the marketplace that will resonate with brokers as it offers a unique entrepreneurial model.”

New platform details

The new platform will support teams at brokers it acquires, providing development opportunities within a larger group. Inflexion will also work flexibly with founders thinking about succession plans.

It will also take on operational burdens, such as regulatory compliance, IT systems, infrastructure and back-office finance. This frees founders and their teams to focus on looking after clients and developing their people.

Dominic Clark, investment director at Inflexion, said: “We are focused on value creation in the insurance broker market and want to work with intermediaries seeking an independent and entrepreneurial home.

”We are designing the platform to attract hub firms, facilitate bolt-on M&A and build a group with a coherent backbone across strategy, talent and services. Founders joining us now will help to shape the development of the business and be culture-makers.”

Inflexion has experience in the broker market. In 2017, for example, it acquired and merged Bollington Insurance Brokers and F Wilsons Insurance Brokers. The PE firm subsequently acquired David Roberts and Partners in February 2021, completing 13 acquisitions in three years.

The investment in the platform is being made by Inflexion’s Enterprise Fund VI, which closed at £975m in 2024. The fund has capacity to provide funding for future acquisitions.

Malcolm Coffin, partner at Inflexion and head of the enterprise fund, said: “Inflexion has a strong track record in the insurance broking sector, which has informed a deep understanding of what entrepreneurs in this industry value and need in order to grow.

“We are committed to building this new platform in a way that emphasises partnering with business owners and their teams and championing independent broking.”