HPS to fund Broker Network acquisition drive

Network boss Andy Fairchild hopeful of completing first deal before end of 2016.

Broker Network chief executive officer Andy Fairchild has confirmed it will be pursuing an acquisition strategy in the months and years ahead.

The network was bought by Highbridge Principal Strategies (HPS) from Towergate in March with the latter retaining a 19.9% stake.

HPS is also the lead owner of Towergate.

“The majority ownership of our business has transferred to HPS,” Fairchild said. “It is via that vehicle that we will access capital to buy brokers and fund their development over the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

FCA cancels broker’s permissions

The Financial Conduct Authority has cancelled the ability of George Baker (Insurance Brokers) to carry out any regulated activities, with immediate effect.

FCA u-turns on enforcement transparency proposals

The Financial Conduct Authority is not going ahead with changes to announcing enforcement investigations, proposals that were labelled ‘name and shame’ and led to a huge outcry across the financial services market.

Should you sell your broking business to an Employee Ownership Trust?

Tax-efficient exit strategies and staff incentivisation have become hot topics among broker leaders since the recent increases in Capital Gains Tax and Employer National Insurance. In the second part of a series focused on the fallout from the 2024 Labour Budget, Catherine Heyes examines how broker owners can use Employee Ownership Trusts to respond to these developments.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: