Towergate-owner Ardonagh Group to buy Carole Nash

david-ross-2016

Towergate-owner Ardonagh Group has exchanged contracts to buy Manchester-based motor broker Carole Nash and SME broker Mastercover.

The company announced the deal in a statement but did not confirm its value.

According to reports in Insurance Insider the deal is valued at over £60m while the Telegraph reported a figure of between £62m and £65m.

Carole Nash will join Autonet, which the Group acquired in 2015, in Ardonagh’s distribution segment.

CEO of The Ardonagh Group David Ross said:

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