The Ardonagh Group has announced that Atlanta Investment Holdings C Limited, a subsidiary of Ardonagh, has exchanged contracts in relation to the purchase of bike insurance specialist Bennetts Motorcycling Services Limited.
Bennetts will join Autonet, Carole Nash and Swinton as part of Atlanta, Ardonagh’s retail platform. The completion of the transaction is subject to regulatory approval.
Founded in 1930, Bennetts provides cover for over 200,000 motorcyclists across Great Britain and Northern Ireland. Bennetts services riders online and via its 200-strong team across sites in Peterborough and Coventry.
Ian Donaldson, CEO of Atlanta said: “More than just an insurance provider, Bennetts holds a distinct place within the biking world thanks to its approach to social channels, with Bike Social providing a hub of expert resources and advice for riders of all persuasions across the UK.
“It’s this client-centric focus which makes it a brand we’ve admired for some time and one that’s set to complement our business lines beautifully. We look forward to the collaboration opportunities ahead.”
CEO of The Ardonagh Group, David Ross, said: “Bennetts holds an well-respected position in the bike insurance sector, making it an ideal addition to the group.
“As we gather further momentum into the new decade and continue capitalising on the opportunities that arise from the breadth and depth of our position, we look forward to welcoming another leading brand into the Ardonagh family.”
Vince Chaney, managing director of Bennetts, added: “As Bennetts enters its 91st year, the acquisition into Atlanta presents new opportunities for us to continue to improve our products and services for Britain’s motorcyclists.
“This is an exciting time within Bennetts and we’re looking forward to working with our new colleagues across The Ardonagh Group.”