Ascend Broking Group has been bought by European mid-market private equity firm Inflexion which has launched an insurance broking platform with more acquisitions planned.
The Chelmsford, Essex-based broker achieved a hat trick of wins at the UK Health & Protection Awards in October, with Ascend Health picking up the Best Sales & Retention Advice Team and Advice Firm of the Year Awards respectively, while Ella Downes was recognised as Outstanding Newcomer.
It specialises in healthcare, commercial lines and value-add risk management solutions.
The business has grown to around 30 employees since launch in 2017.
Founder Matthew Collins, who previously held senior roles at FMW, Oval and AJ Gallagher, will be the group managing director of the acquisition platform.
Inflexion acquired and merged Bollington Insurance Brokers and F Wilsons Insurance Brokers in 2017 and subsequently acquired insurance broker David Roberts & Partners in February 2021, completing 13 acquisitions in three years.
The group added that Ascend was the first of several acquisitions of insurance brokers Inflexion planned to make through its platform with the aim of building a group of between four and six regional broking powerhouse hubs across the country.
The new platform will aim to take on the operational burden on independent brokers from regulatory compliance to IT systems, infrastructure and back-office finance.
Inflexion added it will also work flexibly with founders considering their succession plans.
The investment is being made by Inflexion’s Enterprise Fund VI, which closed at £975m in 2024. The group revealed the fund has significant capacity to provide funding for future acquisitions.
Dominic Clark, investment director at Inflexion, said: “We are designing the platform to attract hub firms, facilitate bolt-on M&A 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.”
Malcolm Coffin, partner and head of the enterprise fund at Inflexion, said: “Inflexion has a strong track record in the insurance broking sector, which has informed a deep understanding of what entrepreneurs in this industry value and need in order to grow.
“We are committed to building this new platform in a way that emphasises partnering with business owners and their teams, and championing independent broking.”
Matthew Collins, managing director of Ascend Broking Group, added: “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.”
