News

Goodman Derrick advises Usay on their sale to Ardonagh Advisory

Goodman Derrick’s corporate team are pleased to have completed on the sale of Usay Group Limited (Usay) to Ardonagh Advisory Holdings Ltd, a subsidiary of The Ardonagh Group, on behalf of longstanding client Usay.

Usay’s comparison service for health insurance, life insurance and income protection is renowned in the sector, having built a well-established client base since 2009. Usay employed 195 at their headquarters in Cirencester and in 2020 generated revenue of £18.4 million. Usay will now operate as part of the Ardonagh Advisory platform, complementing existing offerings from Towergate Health & Protection, winner of Adviser of the Year at the 2019 and 2020 Health Insurance & Protection Awards.

Iain Laws, CEO of Towergate Health & Protection, will lead both businesses. Mark Noble, currently Managing Director at Usay having joined the business from Aviva in 2019, will continue to head up the Usay brand as CEO.

Commenting on the announcement, Iain Laws, CEO of Towergate Health & Protection said:

“The addition of such a strong consumer brand as Usay cements Ardonagh’s position as the home of leading health and protection brokerage. The impact of the pandemic have reinforced the need and importance of health, wellbeing and protection cover, and we are looking forward to supporting the Usay team in their quest to help even more clients across the UK to benefit from Usay’s advice and support in their health, life and protection insurance needs.”

Jessica Nugent, lead corporate partner at Goodman Derrick, commented:

“We are delighted that Usay’s sale has completed and that the regulatory approval has been granted. We wish Usay and whole team well on the next phase of their growth journey.”

The Goodman Derrick team was led by corporate partners Jessica Nugent and Dominic Prentis with assistance from employment partner Alexandra Bonner, and senior associate, real estate, Ross Sidwell. Associates Julia Weeks, Hector Freyne and Remy Ormesher completed the team.

Further information

Dominic Prentis, Partner, +44 (0)20 7092 8526, dprentis@gdlaw.co.uk

James Caulfield, Head of Business Development, +44 (0)20 7421 7968, jcaulfield@gdlaw.co.uk

Goodman Derrick LLP

  • A London law firm focused on delivering an exceptional service to ambitious businesses and entrepreneurs
  • A corporate adviser to a wide-range of listed, national and international businesses, including many household names, providing highly-regarded M&A and Capital Markets representation
  • Our recent corporate track record is available here
  • Recognised as a Top 10 UK Firm for client service in The Legal 500’s Client Service Awards 2019
  • Recommended as a leading law firm in key practices by the independent guides to the legal profession, Chambers & Partners and Legal 500
  • www.gdlaw.co.uk

USAY

Having launched in 2008, Usay is a market leading comparison service for health insurance, life insurance and income protection, removing the hassle and confusion from comparing policies and providing the best quotes on the market. With a head office in South Cerney in Gloucestershire and further offices in Bristol and Victoria, London, Usay focuses on making cost-effective private medical care, straightforward and accessible.

www.usaycompare.co.uk

Ardonagh Advisory

Ardonagh Advisory Holdings Ltd is The Ardonagh Group’s SME broking platform comprised of Broker Network, Compass Network, Ethos Broking, Footman James, Towergate Insurance Brokers, Towergate Health & Protection, Towergate Riskline and Your Insurance brands.

With legacies which laid the foundations for the creation of The Ardonagh Group, these are advice-led, community-focused businesses with an unrivalled local footprint of experts across a wide range of sectors and specialisms, combined with national and international reach.

Towergate Health & Protection

Towergate Health & Protection, which has its registered office in West Park House, Southampton, combines a whole of market, independent insurance broking service for businesses and individuals throughout the world with specialist health and wellbeing advice and solutions. The company aims to help clients manage their health risks and improve the wellbeing of themselves, their families and employees, resulting in a healthy, motivated and productive workforce.

www.towergatehealthandprotection.co.uk