As you might be aware, back in June PFP were acquired by Highbridge Principal Strategies (HPS) and Madison Dearborn Partners (MDP). HPS and MDP also have a major shareholding in The Ardonagh Group. It has recently been announced that The Ardonagh Group have entered into an agreement to acquire PFP from HPS and MDP, subject to regulatory approvals.
The Ardonagh Group is one of the UK’s largest independent insurance brokers and is comprised of Autonet, Carole Nash, Chase Templeton, Direct Group, Price Forbes and Towergate. Combined, the Group has a network of over 100 offices and a workforce of nearly 6,000 employees. You can read more here http://www.ardonagh.com/about-us/our-company
This is another positive step for our business as we become part of a recognised UK Group, and further strengthens our financial security, both for us and our clients. The move also provides multiple opportunities for our business and our clients as we begin to tap into the products and services available within Ardonagh.