Ardonagh sells remaining Broker Network stake in £30m deal
Nevada, an investment vehicle originally backed by KIRS Group, has purchased a further 19.9% of the business.
Nevada Investment Holdings has bought the remaining 19.9% stake in Broker Network for £30m subject to meeting certain business performance measures.
Nevada is an investment vehicle which was set up by Towergate-owner KIRS Group.
KIRS Group, which was later rebranded as Ardonagh, includes Towergate, Autonet, Chase Templeton, Direct Group, Carole Nash and Price Forbes.
Janice Deakin, deputy CEO of The Ardonagh Group stated: “It’s clear from all we have done in Ardonagh so far that we have no
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