Ardonagh Group posts steady growth as it makes further acquisitions
The Ardonagh Group, the UK broker formed this year by the merger of the brands Autonet, Chase Templeton, Direct Group, Price Forbes and Towergate, has posted a solid set of results for the first nine months of the year as it continues to grow through acquisitions.
The business’s income increased by 3.7 percent in the first nine months of 2017 to reach £373.4 million; its organic growth in the third quarter alone was 3.5 percent.
Since the company was formed in June 2017 it has also added three month businesses: Healthy Pets, Carole Nash and Mastercover.
David Ross, chief executive of The Ardonagh Group, said: “This has been another strong quarter where we have achieved positive income and Adjusted EBITDA1 growth. With three high quality, complementary acquisitions, a number of game-changing strategic hires and the delivery of robust organic2 growth, we continue to capitalise on the significant market opportunities ahead.”
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