Towergate-owner Ardonagh Group to buy Carole Nash
The Group revealed that contracts have been exchanged in the deal which is valued at between £60m and £65m and also announced it is set to purchase Mastercover.
Towergate-owner Ardonagh Group has exchanged contracts to buy Manchester-based motor broker Carole Nash and SME broker Mastercover.
The company announced the deal in a statement but did not confirm its value.
According to reports in Insurance Insider the deal is valued at over £60m while the Telegraph reported a figure of between £62m and £65m.
Carole Nash will join Autonet, which the Group acquired in 2015, in Ardonagh’s distribution segment.
CEO of The Ardonagh Group David Ross said:
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