Ardonagh boosts adjusted Ebitda by a third to $649.6m

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Income at Ardonagh rose 29.1% last year to $1.99bn (£1.59bn) on the back of organic growth and 67 acquisitions.

Adjusted Ebitda was also up, by 33.6%, at $649.6m.

The consolidator has struck a deal to sell retail arm Atlanta to Markerstudy. The transaction, which will see Markerstudy pay £820m with Ardonagh keeping a 23% stake in the new combined entity, was signed off by the Competition and Markets Authority this week.

To have completed an over-subscribed offer of this magnitude is a huge vote of confidence in the company, and an excellent outcome

Ardonagh detailed that stripping out the retail unit, then

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