Aston Lark has once again demonstrated its acquisitive prowess by welcoming Innovation Broking as the latest addition to the group. Innovation, which was founded in 2015 by Paul Dickson and Howard Pearson, is an independent corporate insurance broker and employee benefits adviser which boasts a team of 30 staff.
The corporate broker specialises in larger risks, global programs, and private equity-backed businesses, with particular expertise in the technology, health, film and TV, and charities and care sectors. Commenting on the deal, Peter Blanc, Aston Lark group CEO, noted that he has known Dickson for many years and that his reputation in the market as a broker and a leader is “outstanding”.
“He and Howard have built Innovation Broking into a renowned business in just six years, employing fantastic talent from top to bottom,” he said. “I’m delighted to welcome the whole team into the Aston Lark fold and look forward to working with Paul and his colleagues as they continue to build a unique corporate proposition.”
Innovation Broking CEO, Dickon stated that he is delighted that Innovation has agreed to be acquired by Aston Lark (which is now due to become part of the Howden Group) and that the deal will provide a great platform for the continued growth of this corporate broking business as well as new opportunities for its people.
“Peter Blanc and I have known each other for many years, and I have enormous respect for his leadership of Aston Lark, which in common with Innovation, places people and their development at the forefront of its business,” he said. “Innovation has grown into a great business in the last five years, and this is thanks in part to our backing from Albion Capital who have supported us since our formation.”
Dickson also said he is excited that Innovation will be heading up a corporate practice unit as part of Aston Lark’s retail division and that the group will continue to build on its specialisms in the tech, emerging risks, and the charity and care sectors.
He added: “I am also very pleased to be asked by Peter to chair Aston Lark’s broking and benefits companies from early 2022.”
Will Fraser-Allen, managing partner at Albion Capital Group LLP, commented: “We identified a compelling investment case for Innovation Broking and its corporate broking model, focussed as it is on high-end board-level engagement with clients that had more complex insurance needs. I have known Paul for many years and Albion Capital is delighted to have backed Innovation from day one through to this hugely successful sale to Goldman Sachs-backed Aston Lark, which recognises the outstanding quality of Innovation and its team.”