Howden strikes another deal to expand in the UK after Aston Lark
Howden Group has agreed to acquire a UK-based intermediary specialising in commercial mortgage broking including high net worth and private client focused businesses, to further expand its offering in the market. The deal follows last year’s acquisition of Aston Lark to create a “full-spectrum British broker” with a broader reach and portfolio.
SPF Private Clients will join Howden’s UK & Ireland business with Mark Harris (pictured) remaining as its chief executive officer (CEO). Howden hopes the acquisition will enhance its position as a “leading independent insurance distributor” in the region.
SPF specialises in residential and commercial mortgage broking, commercial real estate insurance, high net worth personal lines insurance, property title insurance, life assurance and associated wealth management consulting. The company was formed in 2011 after a management buyout and rebrand of Savills Private Finance, the financial arm of Savills, before Cabot Square Capital acquired a majority stake in the business in 2018.
Howden said SPF’s acquisition is a part of its commitment to invest in the UK economy and its 110 high street branches, currently branded as A-Plan.
“SPF is a stand-out business in its sector and is a strong addition to our Howden UK & Ireland business,” said Carl Shuker, CEO of Howden UK & Ireland. “With SPF, the recent acquisition of A-Plan and the upcoming completion of Aston Lark, Howden UK & Ireland will be a leading end-to-end insurance distributor capable of supporting all of our clients, whatever their insurance and mortgage needs, underpinned by market-leading digital and data capability.”
Chris Evans, deputy CEO of Howden Broking Group, added: “ Howden and SPF have a long-established trading relationship, so SPF joining the Howden family is a natural next step in our partnership. Its unique qualities will greatly enhance our offering in the region by diversification into complementary product distribution that will further position us as a leader in our home market.”
Harris commented: “SPF and Howden are highly complementary businesses that focus on providing the best solutions to our clients while always putting our people first. SPF will benefit from the significant opportunities that being part of Howden will deliver, with a big drive into offering our debt product lines across the group. We will carry on doing what we do best, ultimately enabling us to develop products to best serve our clients while allowing our talent to flourish.”
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