London-based Ballantyne Brokers has completed its management buy-out from parent company K2 Insurance to form its own independent entity. The buy-out was led by original founders Ross Ballantyne and Richard Spragg, plus chief operating officer John Harris; the latter will continue to lead the company moving forward.
With this buy-out, Ballantyne, which is now 100% owned by its employees, will continue to provide brokerage services to clients in its native UK as well as Europe and North America. The firm focuses on cyber, professional liability, property and casualty, personal accident, medical malpractice, financial services, and directors and officers as its main lines of business.
Ambitious plans in the pipeline, including expansion
Spragg said in a press release that the brokerage has “some ambitious plans in the pipeline which include expanding our team of talent.” He teased that the firm has already made two new appointments this year, both of which will be announced in the near future.
Harris said that the buy-out is a culmination of the management team laying foundations for its growth, including adopting the latest technologies as well as employing new talent.
“The fundamentals are all in place; being 100% employee-owned means that we are nimble, flexible and ready to scale up. It’s a really exciting time,” he said.
Ballantyne Brokers was founded in December of 2020. It was then focused on the SME business and led by operations director Alex King.
What are your thoughts on this story? Please feel free to share your comments below.
