Towergate acquires Open GI
Towergate, has announced the largest deal in its 10 year history with the acquisition of Open International, the UK & Ireland’s leading supplier of IT solutions to insurance brokers.
The £276m deal covers all Open International Group companies, including Open GI, the Countrywide Network, and London Market technology provider, MI Ltd.
The business will be run as a separate entity under the Towergate Partnership umbrella and all of Open International’s 300 plus staff will remain under the leadership of CEO, Phillip Bell, and his management team who will maintain their owner driver status by retaining an equity holding in the business going forward.
Towergate’s chairman, Peter
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