Ardonagh's Q1 deal spend revealed
The consolidator has paid £111m in cash for deals including Marmalade, Hemsley Wynne Furlonge, AccuRisk, and Resilium as it also states it was paid £22.75m for Bennetts.
Ardonagh spent a total of £111.28m in cash on deals in the first quarter of 2021, according to its financial statement for the three months to 31 March.
With share capital and other factors taken into account, the total purchase consideration was £191.9m.
As previously reported, Ardonagh-owed Atlanta bought telematics broker Marmalade at the end of March.
The group detailed that it had paid £21m in cash for Marmalade and that the deal had included a contingent consideration with a fair value
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