Towergate won’t stop acquiring, says Egan
Interim CEO commits to acquisitive strategy following recapitalisation and argues that the broker won’t rebrand as it reaches “landmark deal”.
Interim Towergate CEO Scott Egan has confirmed that its new investors behind the recapitalisation deal reported today were supportive of the broker's long term strategy.
This mean that the company is not ruling out further acquisitions in the near future, despite many believing that it was this ambition that led to the crippling level of debt revealed last year and forced the business to put itself up for sale.
Egan told Insurance Age: "Acquisitions are in the DNA of Towergate. It's an
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