Brokerage consolidator Towergate reveals acquisition approaches
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London-based brokerage consolidator Towergate Partnership Ltd. on Wednesday said it had received approaches from parties interested in acquiring the group and is assessing those offers.
In its interim management statement, Towergate, which operates insurance brokers distributing products to small businesses and individuals, a managing general agency and other assets, said it had appointed advisers to help evaluate the potential offers.
“The approaches we have received are testament to the group’s strength in its primary markets. Whilst there can be no certainty that these approaches will result in a sale, it is our responsibility as a board to evaluate them thoroughly,” said Alastair Lyons, the company’s interim executive chairman, in the statement.
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