Aston Lark, a chartered insurance broker backed by Goldman Sachs, has acquired Bruce Stevenson, a Scotland-based insurance broker.
Bruce Stevenson was established almost 40 years ago and is the largest independent insurance broker in Scotland.
The company provided specialist products and services to both commercial and private clients across the UK, with specialisms including renewable energy, social housing, and property insurance.
The Bruce Stevenson brand will be maintained for the foreseeable future.
Edward Bruce, CEO, will lead Aston Lark’s Scottish operations, including their existing team in Glasgow, and Aston Lark will look to further develop its presence in Scotland with future acquisitions.
“When we first started on the Aston Lark journey, Stuart Rootham and I agreed that Bruce Stevenson would be the perfect partner for us in Scotland,” said Peter Blanc, Aston Lark Group Chief Executive Officer.
“Edward and his team have a fantastic reputation and we couldn’t be more proud that they’ve chosen Aston Lark as their home. I’m particularly delighted that Edward and his senior management team have chosen to invest part of their sales proceeds into Aston Lark as a sign of their long-term commitment to the Group.”
Edward Bruce, Bruce Stevenson CEO, added, “I’ve known Stuart and Peter for many years and over that time developed a close personal relationship and an understanding of shared business values and aspirations.
“After 40 very successful and happy years, joining the AstonLark team will allow Bruce Stevenson to expand at an even faster rate.
“There’s lots of synergy in the cultures of Bruce Stevenson and Aston Lark, and specifically in the areas of client focus, staff welfare, and training & development – evidenced by the Chartered status and long-term insurer relationships of both. I look forward to the Bruce Stevenson team continuing to deliver the same high quality service proposition to our clients.”