23 March 2023Analysis

Ballantyne completes buy-out from K2

Ballantyne Brokers, a specialist London-based insurance broker firm, has announced that its management team has completed a buy-out from its parent company K2 Insurance Services.

The management buy-out was led by original founders, Ross Ballantyne and Richard Spragg, and chief operating officer, John Harris who will continue to lead the company as it moves forward as an independent entity.

The buy-out will enable Ballantyne Brokers, which is now 100% owned by its employees, to focus on its core business of providing insurance brokerage services to clients in the UK, Europe and North America. The firm has a strong reputation for delivering personalised service and tailored insurance solutions in the commercial insurance market with a key emphasis on cyber, professional liability, property and casualty, personal accident, medical malpractice, financial services and D&O.

"We are delighted to have completed this management buy-out and to be moving forward as an independent company," said Ross Ballantyne. “We are grateful to K2 Insurance Services for their support over the past few years, and we are excited about the opportunities that lie ahead.”

"We have some ambitious plans in the pipeline which include expanding our team of talent,” added Spragg. “We’re an entrepreneurial firm, offering the right people an amazing career progression as well as their very own stake in the company. If they are motivated, willing to work hard and are committed to helping Ballantyne Brokers succeed, then we’d love to hear from them. Already, we’ve made two new appointments this year which we’ll be announcing very shortly.”

John Harris, chief operating officer of Ballantyne Brokers said: “Over the past two years, we have been busy laying down the foundations, adopting the latest technologies, employing exceptional talent and the buy-out has been the icing on the cake. 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.”