Carole Nash Insurance Consultants Ltd (Carole Nash) and its majority-owner Groupama can confirm the statement issued by The Ardonagh Group earlier today, announcing that the burgeoning insurance group has exchanged contracts in relation to purchasing the entire share capital of Carole Nash, the UK’s leading motorcycle insurance broker, subject to regulatory approval.
Responding to the announcement, David Newman, Chief Executive of Carole Nash Insurance comments, “Both the directors of Carole Nash and the management of Groupama are delighted to have reached this agreement with The Ardonagh Group. The Ardonagh Group management team bring with them a wealth of experience and are highly ambitious for their group of companies.
For the past three decades, Carole Nash has been providing a best-in-class service in our sector. Through our mantra of ‘The care it deserves’ we spearhead best practice, innovating in the marketplace and placing our loyal customers at the heart of our business. The business is in great health, with a committed and talented staff team, and so now is the perfect time for a new owner to come in and help push the company further forward.”
CEO of The Ardonagh Group David Ross said:
“Carole Nash is not only a pre-eminent brand and market leader, it’s a hugely successful business and an ideal addition to the Group as part of our carefully targeted acquisition strategy. We have admired the business for a long time and are really happy to be welcoming them into the fold as another hugely important addition to The Ardonagh Group family.”
Carole Nash, whose brand ambassadors include World Superbike champion Jonathan Rea, is the largest motorcycle insurance broker in the UK and a specialist brand renowned for quality and service. 400 people are employed at the company headquarters in Altrincham, South Manchester, with a further 30 in Dublin. The company has been based in South Manchester since its formation in 1985 by founder Mrs Carole Nash OBE.
THE ARDONAGH GROUP ANNOUNCES INTENTION TO ACQUIRE CAROLE NASH FROM GROUPAMA
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