TIDMBPM
RNS Number : 5720T
B.P. Marsh & Partners PLC
16 October 2017
Date: 16 October 2017
On behalf of: B.P. Marsh & Partners Plc ("B.P. Marsh", the "Company" or the "Group")
B.P. Marsh & Partners Plc
Investment in Mark Edward Partners LLC
The Board of B.P. Marsh & Partners Plc, the venture capital
provider to early stage financial services businesses (AIM: BPM),
is pleased to announce an investment into Mark Edward Partners LLC
("MEP"), taking a 30% equity stake and providing a $2m loan
facility available for future growth.
Mark Edward Partners LLC is a specialty insurance broker
offering a wide range of risk management services to both
commercial and private clients. MEP is a national U.S. firm with
licenses to operate in all 50 states and has offices in New York,
Palm Beach and Los Angeles.
Founded in 2010 by Mark Freitas, its President & Chief
Executive Officer, MEP provides core insurance products in
Financial & Liability, Property & Casualty, Personal Lines,
Life Insurance, Cyber and Affinity Groups. The B.P. Marsh
investment in MEP will be used to expand MEP's current market
footprint and for opportunistic M&A activity.
By investing in MEP, B.P. Marsh is entering into partnership
with Mark Freitas, who has over 30 years of experience in the
insurance industry. Having begun his career at American
International Group ("AIG"), Mark joined Crystal & Company, the
U.S. based Insurance Broker, where he subsequently became President
& Chief Operating Officer, and saw the business increase its
revenues significantly. He then left Crystal & Company in 2009
to establish MEP.
Commenting on the investment Brian Marsh, B.P. Marsh Chairman
stated, "We are pleased to announce a further investment in the
United States. Mark Edward Partners is a strong established broker
with a knowledgeable Management Team and ambitions for the
future."
Dan Topping, B.P. Marsh Chief Investment Officer, who has been
appointed to represent the Company at MEP commented, "We are
delighted to be making this investment in MEP, and I am looking
forward to working alongside Mark Freitas and his Management Team
to help them achieve their growth plan."
Commenting on the investment, Mark Freitas, President and Chief
Executive Officer of Mark Edward Partners LLC stated, "We are
extremely pleased to be partnering with B.P. Marsh who brings an
abundance of experience and expertise on an international basis. We
look forward to expanding our footprint globally and working with a
group who shares our vision, not to mention working together with
such a successful entrepreneur as Brian Marsh."
For further information:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk
Brian Marsh OBE / Camilla Kenyon +44 (0)20 7233 3112
Nominated Adviser & Broker
Panmure Gordon
Atholl Tweedie / Charles Leigh-Pemberton / Adam James +44 (0)20 7886 2500
About B.P. Marsh & Partners Plc
B.P. Marsh's current portfolio contains fifteen companies. More
detailed descriptions of the portfolio can be found at
www.bpmarsh.co.uk.
Since formation over 25 years ago, the Company has assembled a
management team with considerable experience both in the financial
services sector and in managing private equity investments. Many of
the directors have worked with each other in previous roles, and
all have worked with each other for at least five years.
Prior to Brian Marsh's involvement in the Company, he spent many
years in insurance broking and underwriting in Lloyd's as well as
the London and overseas market. He has over 30 years' experience in
building, buying and selling financial services businesses,
particularly in the insurance sector.
Alice Foulk joined B.P. Marsh in September 2011 having started
her career at a leading Life Assurance company. In 2014 she took
over as Executive Assistant to the Chairman, running the Chairman's
Office and established herself as a central part of the management
team.
In February 2015 she was appointed as a Director of B.P. Marsh
and a member of the Investment Committee. In January 2016 Alice was
appointed Managing Director of B.P. Marsh.
In her position as Managing Director, Alice is responsible for
the overall performance of the Company and monitoring the Company's
overall progress towards achieving the objectives and goals of the
Company, as set by the Board.
Dan Topping is the Chief Investment Officer of B.P. Marsh,
having been appointed as a Director in 2011. He joined the Company
in February 2007, following two years at an independent London
accountancy practice. Dan is the Senior Executive with overall
responsibility for the portfolio and investment strategy of B.P.
Marsh.
Dan graduated from the University of Durham in 2005 and is a
member of the Securities and Investment Institute and the Institute
of Chartered Secretaries and Administrators.
Dan is a standing member of the B.P. Marsh Investment and
Valuation Committees and currently serves as a Board Director
across the portfolio.
Camilla Kenyon was appointed as Head of Investor Relations at
B.P. Marsh in February 2009, having four years' prior experience
with the Company. She was appointed to the main board in 2011.
Camilla is Chair of the New Business Committee evaluating new
investment opportunities. She acts as a nominee director and is a
standing member of the Investment Committee. She is a Member of the
Investor Relations Society.
Jonathan Newman is a Chartered Management Accountant and is the
Group Director of Finance and has over 17 years' experience in the
financial services industry. Jon graduated from the University of
Sheffield with an honours degree in Business Studies and joined the
Group in November 1999, following two years at Euler Trade
Indemnity and two years at a Chartered Accountants. Jon is a Member
of the Chartered Global Management Accountants, the Chartered
Management Accountants and the Chartered Institute of Securities
and Investment.
Jon was appointed a Director of B.P. Marsh & Company Limited
in September 2001, and Group Finance Director in December 2003 and
was instrumental in the admission of the Group to AIM in February
2006. Jon is a member of the B.P. Marsh Investment and Valuation
Committees and currently serves as a Board Director for Walsingham
Motor Insurance Limited, and provides senior financial support and
advice to all companies within the Group's portfolio as well as
evaluating new investment opportunities.
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
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