The Ardonagh Group completed the acquisition of MDS Group from Sonae and IPLF Holding.

The Ardonagh Group, an independent brokerage group, completed the acquisition of MDS Group, an insurance broker, from Sonae, a company managing a diversified portfolio of businesses in retail, and IPLF Holding, a company with experience in investments in different sectors. Financial terms were not disclosed. "We launched Ardonagh Global Partners at the start of the year to offer a home for businesses and management teams across the globe which want to plug into our commercial capabilities and resources, whilst maintaining the client service and culture that made them successful in the first place. We welcome José Manuel Fonseca and his global colleagues as an embodiment of just that and look forward to helping bring more products, connectivity and buying power to their clients," David Ross, Ardonagh Group CEO.