UK-based Ardonagh Group unveils latest numbers
The group’s continued focus on diversification across products and markets – by combining the strength of its UK platforms with significant specialty and international momentum – accounted for over 45% of its income. In particular, organic revenue growth was 16% in the specialty area and 19% in the international area.
The group has also raised over $1 billion in combined equity and debt capital from its existing investors since early 2022 to support our inorganic operations.
Group highlights 2022
In FY22, Ardonagh completed and exchanged 39 acquisitions, including new platforms in Portugal and Latin America, the Netherlands and Australia, acquired by MDS, Léons and Envest respectively.
The following are the group’s other activities in 2022:
- The mergers and acquisitions (M&A) pipeline remained active with over 70 deals, mostly bilateral. In addition, the pipeline’s annualized value was over $100 million in EBITDA;
- Significant investment in data and placement has delivered strong and growing returns, with capacity strategy initiatives executed to date expected to generate over $25 million in EBITDA, creating an excellent backdrop for future growth;
- The Ardonagh Group welcomed 1,189 new colleagues (excluding M&A) in 2022 and the number of Ardonagh colleagues who are shareholders in the group doubled to over 10% (1,100);
- The group raised over $2.5 million for the Ardonagh Community Trust (ACT), including over $1 million from peers and shareholders. In 2022, ACT and colleagues donated over $800,000 to nonprofits and causes through community grants and donations. And
- The first Sustainability Report has been released detailing Ardonagh’s progress and commitments across the pillars of People, Society, Environment, Integrity and Innovation.
Commenting on the latest figures, David Ross, chief executive of the Ardonagh Group, said 2022 “has been surpassed [the group’s] vision five years ago.”
“We have laid the groundwork and are now entering our next phase of growth by advancing our internal specializations and placement opportunities, making value-added acquisitions for our established platforms, leveraging our buying power and learning from each other to optimize performance across the group,” so called Ross. “Ardonagh was formed to build a quality global platform comprised of client-focused specialist brokerage firms with a London specialty business at their heart.”