We are delighted to have advised Principal Insurance Ireland DAC (PII) on their sale to Aston Lark Limited.
Based in Dublin, PII is one of Ireland’s leading motorcycle insurance brokers. It also provides car, commercial vehicle and home insurance
Backed by Goldman Sachs and Bowmark, Aston Lark has over 1,500 staff across the UK and Ireland and places over £700 million of premium into the market
The acquisition of PII further strengthens Aston Lark’s already significant personal lines insurance expertise and it will invest in PII in order to extend its footprint in motorcycle insurance and seek out diversification opportunities
We were engaged by Principal Insurance Limited, the UK-based parent company, to provide lead advisory services in relation to the disposal.
Given the specialist nature of the PII business, we focussed on a select number of trade and private equity-backed trade parties who we felt were best placed to build upon the success of PII since its foundation in 2015, offer a strong cultural and strategic fit and ultimately pay a premium price for the business
Using our in-depth sector experience and knowledge, we selected the most appropriate potential buyers and ran a tight and highly competitive process before selecting Aston Lark as the preferred bidder and then leading negotiations to a successful conclusion.
The Grant Thornton team’s in-depth sector and transaction experience delivered a deal that both maximised value for ourselves and found the right strategic home for our Irish business.Dave Bowcock CEO, Principal Insurance Limited