Inflexion has launched a new insurance broking platform with a cornerstone investment in Ascend Broking Group, based in Chelmsford, Essex, UK.
The private equity firm is backing Ascend through its buyout vehicle, Enterprise Fund VI, which stood at £975m ($1.3bn) in 2024.
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Ascend specialises in commercial insurance, healthcare sectors and risk management services.
The company, launched in 2017, currently employs approximately 30 staff.
Founder Matthew Collins will take on the role of group managing director for the new platform.
He formerly had stints in senior positions at FMW, Oval and AJ Gallagher.
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By GlobalDataCollins commented: “Inflexion stood out as a partner because they are building a group that takes the operational burden off brokers’ shoulders, empowering us to focus on what we do best. With Inflexion, I am helping to build an alternative model in the marketplace.”
The partnership with Ascend is described as the first of several intended acquisitions as Inflexion seeks to build a network of four-to-six regional broking centres across the UK.
The new platform is designed to centralise operational functions such as compliance, technology infrastructure and financial administration for acquired brokers.
Inflexion’s approach aims to allow broker founders and their teams to focus on client relationships and staff development.
The firm also indicated it will accommodate founders who are considering succession options.
Inflexion investment director Dominic Clark said: “We are designing the platform to attract hub firms, facilitate bolt-on M&A [mergers and acquisitions] and build a group with a coherent backbone across strategy, talent and services. Founders joining us now will help to shape the development of the business and be culture-makers.”
Inflexion has previously invested in regional insurance brokers.
Notably, the firm purchased and merged Bollington Insurance Brokers and F Wilsons Insurance Brokers in 2017, forming a major independent broker in northern England.
Further expansion included the acquisition of David Roberts & Partners in early 2021, with Inflexion completing 13 acquisitions over three years.
