Bowmark backs merger of Aston Scott and Lark Group

Bowmark originally supported the management buyout of Aston Scott in 2015 and has since pursued a buy-and-build strategy, taking advantage of the fragmented UK insurance broking market, which comprises more than 3,000 regional brokers. The merged group aims to continue this strategy.

A new company is being established to acquire the entire share capital of Lark and Aston Scott, with Bowmark as the majority shareholder. The board of the new company, which is yet to be named, will include Aston Scott CEO Peter Blank and Lark Group managing director Stephen Lark. A substantial stake in the business will be owned by the board and senior management.

Company
The merged group will have 600 staff at 18 offices across the UK. Based in London, Lark was founded in 1948 and has 333 staff. The combined company is expected to generate annual revenues of £50m.

People
Aston Scott – Peter Blanc (chief executive).
Lark Group – Stephen Lark (managing director).
Bowmark Capital – David Torbet (partner).

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• Topics
• Financials
• UK / Ireland
• Buyouts
• Expansion
• Build-up
• United Kingdom
• Bowmark Capital LLP