Acquisition of McAra continues expansion in Scotland
Towergate has announced the acquisition of Scottish insurance broking firm, McAra Associates Limited.
Under the deal, all staff and directors have made the move to Towergate. The team will continue to be led by managing director, Stewart McAra based in Aberdeen.
Established in 1984, McAra Associates Limited is a leading regional broker in the North East of Scotland with a strong commercial and personal lines business.
The company has a particularly strong construction, oil and gas client base.
This acquisition is part of Towergate’s expansion plans for Scotland where it already has a significant presence. Towergate acquired J W Group in April 2007, a long established business with six offices based in Edinburgh, Glasgow, Kirkcaldy, Berwick, Jedburgh and Galashiels.
Peter Cullum, executive chairman of Towergate said: “This is another great signing for Towergate in Scotland where we continue to build our coverage.
"This year will see us embark upon an ambitious programme of further strategic acquisitions and strong organic growth.”
Stewart McAra, managing director of McAra Associates Limited said: “We’re delighted to be joining the Towergate family and to be part of its exciting expansion plans for Scotland.
"I’m particularly looking forward to building our presence in the North East of Scotland and the Northern Isles where we have many years experience of working with both commercial and personal lines clients.”
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