Ardonagh Buys Motor Broker Lloyd Latchford For £15.3M

Law360, London (October 2, 2020, 1:09 PM BST) -- Insurance holding company Ardonagh said on Friday that it has bought motor broker Lloyd Latchford Group in a deal worth £15.3 million ($19.5 million).

The transaction has already received regulatory approval, the Ardonagh Group said on Friday, with £11.5 million paid in cash and the remainder in shares.

The deal comes two days after private equity-backed Ardonagh said it will sell its newly acquired broking company, Bennetts Motorcycling Services Ltd., after the antitrust watchdog said it will examine the deal amid competition concerns.

Lloyd Latchford, a retail broker based in the central England county of Buckinghamshire, specializes in car, driving instructor, commercial...

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