Announcements

The Ardonagh Group announces intention to purchase Bennetts Motorcycling Services Limited

17 February, 2020 |Retail | M&A

17 February 2020

The Ardonagh Group (“the Group”) today announces that Atlanta Investment Holdings C Limited, a subsidiary of Ardonagh, has exchanged contracts in relation to the purchase of Bennetts Motorcycling Services Limited ("Bennetts"), part of Saga Services Limited ("Saga").

Bennetts will join Autonet, Carole Nash and Swinton as part of Atlanta, Ardonagh’s Retail platform. Completion of the transaction is subject to regulatory approval.

Founded in 1930, Bennetts is a leading bike insurance specialist providing cover for over 200,000 motorcyclists across Great Britain and Northern Ireland.

Bennetts services riders online and via its 200-strong team across sites in Peterborough and Coventry. Bennetts also operates BikeSocial, an online news and advice platform which has amassed a significant following across social media.

Commenting on the news today, Ian Donaldson, CEO of Atlanta said:

“More than just an insurance provider, Bennetts holds a distinct place within the biking world thanks to its approach to social channels, with Bike Social providing a hub of expert resources and advice for riders of all persuasions across the UK.”

“It’s this client-centric focus which makes it a brand we’ve admired for some time and one that’s set to complement our business lines beautifully. We look forward to the collaboration opportunities ahead.”

CEO of The Ardonagh Group David Ross said:

“Bennetts holds an well-respected position in the bike insurance sector, making it an ideal addition to the Group. As we gather further momentum into the new decade and continue capitalising on the opportunities that arise from the breadth and depth of our position, we look forward to welcoming another leading brand into the Ardonagh family.”

Vince Chaney, Managing Director of Bennetts added:

“As Bennetts enters its 91st year, the acquisition into Atlanta presents new opportunities for us to continue to improve our products and services for Britain’s motorcyclists. This is an exciting time within Bennetts and we’re looking forward to working with our new colleagues across The Ardonagh Group”



Notes to Editors

THE ARDONAGH GROUP

For more information, please email: Communications@ardonagh.com

The Ardonagh Group is the UK’s largest independent insurance broker with global reach. We are a network of over 100 office locations and a workforce of over 6,000 people. Formed in 2017 and following a series of acquisitions in 2018, Ardonagh today brings together best-in-class brands including Autonet, Bishopsgate, Carole Nash, Geo Underwriting, Price Forbes, Swinton, Towergate and URIS. Our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver solutions that meet our customer needs.

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