Ataraxia backs broker EIC's management buyout
Firm planning to grow through local acquisitions.
Hemel Hempstead broker EIC Insurance Services has completed a management buy-out (MBO) following the partial retirement of owner Ian Styles, Insurance Age can reveal.
Broker investment firm Ataraxia Broking announced that it had invested in the business in order to make the MBO possible.
Former sales director Charlie Hicks is now managing director at the broker and has taken ownership of the company with Ataraxia as a minor investor and silent partner.
The terms of the MBO were not
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Gallagher boss Rea to replace Aon’s Kielty as Biba deputy chair
The British Insurance Brokers’ Association has announced that Michael Rea, Gallagher’s UK CEO, will be the association’s next deputy chair.
End of Year Review 2025: Bspoke’s Craig Morgan
Craig Morgan, managing director of Bspoke Sports & Leisure, echoes the concerns of others over the speed the market has softened; hails the work of Ajay Mistry in championing transparency and diversity; and shares a giant darts nickname.
Clear Group co-founder Lickens to retire
The Clear Group has announced that Howard Lickens, co-founder of the business with Gary O’Donnell, will retire at the end of this year.
End of Year Review 2025: Allianz Personal’s Graham Wright
Graham Wright, managing director – broker (interim) at Allianz Personal, acknowledges customers have benefited from the soft market, muses about whether consolidation has suppressed new entrants and keeps his cards close to his chest over the insurer’s plans for 2026.
Mindful placement in a soft market – why discipline still matters
Soft markets demand sharper thinking to avoid a false sense of security and complacency, argues John Dunn, managing director of distribution and market management at The Clear Group and Brokerbility.
End of Year Review 2025: SSP Broker’s Martyn Mathews
SSP Broker managing director Martyn Mathews crosses his fingers for the roll-out of a pilot insurance-in-education programme in 10-20 secondary schools, and looks to Star Trek for AI-related inspiration.
£40m GWP broker eyes first acquisition after securing growth funding
Lytham-headquartered Tower Insurance Brokers has secured a multi-million pound growth funding facility from TDC.
Bravo Networks launches startup broker proposition
Bravo Networks has launched a proposition designed to help insurance brokers enter the market and build an independent business at pace, planning to scale up to 75 partners in the next five years, Insurance Age can reveal.