B.P. Marsh & Partners PLC New Investment - Denison and Partners Limited (7996F)
24 March 2022 - 6:00PM
UK Regulatory
TIDMBPM
RNS Number : 7996F
B.P. Marsh & Partners PLC
24 March 2022
Date: 24 March 2022
B.P. Marsh & Partners Plc
("B.P. Marsh", "the Company" or "the Group")
New Investment - Denison and Partners Limited
B.P. Marsh and Partners Plc (AIM:BPM), the Specialist Private
Equity Investor in early stage financial services businesses, is
pleased to announce that it has acquired a 40% Cumulative Preferred
Ordinary shareholding in Denison and Partners Limited ("Denison and
Partners"). B.P. Marsh has also provided a Loan Facility to Denison
and Partners. This facility is available from completion and will
be drawn down in tranches, in line with Denison and Partners'
business plan. In aggregate, the Company will be providing funding
of GBP802,000.
Denison and Partners is a start-up London-based Lloyd's
Insurance Broker, established by Alasdair Ritchie, with a focus on
delivering (re)insurance delegated authority solutions and services
to Managing General Agencies, Coverholders and (re)insurers.
Denison and Partners will look to leverage its historic strong
foundation and relationships in the Financial and Professional
lines sector, primarily across the UK, US and Canada. At the same
time, Denison and Partners shall seek to capitalise on
opportunistic lines of business across other sectors, as may be
presented by favourable market conditions, not least by seeking new
hires and teams specialising in those expansive lines.
Denison and Partners seeks to build long-term partnerships with
its clients, developing tailored risk solutions in order to meet
complex client needs in today's trading and business
environment.
Alasdair has over 40 years of experience in the (re)insurance
market. Prior to establishing Denison and Partners, Alasdair had
held a number of senior roles at Willis Group, now known as Willis
Towers Watson (WTW), Marsh McLennan and most recently BMS Group. At
BMS Group Alasdair established, and was Managing Director of, BMS
Professional and Financial Risks Limited.
Dan Topping, Chief Investment Officer of the Company, commenting
on this investment, stated:-
"We are pleased to be investing in Denison and Partners , and we
look forward to working with Alasdair and his team. He has a fine
reputation for providing boutique risk management and transfer
solutions to a wide array of clients.
"Following a number of realisations in our previous financial
year to 31 January 2022, the Group has continued to focus on
investing in niche businesses backed by experienced and capable
management teams. An investment in a start up specialist
independent Lloyd's Insurance Broker corresponds with this
investment approach."
Alasdair Ritchie, Denison and Partners' Founder and CEO,
commented:-
"We are delighted to have B.P. Marsh as a partner to support us
in achieving our long term ambitions and goals, as set out in our
business plan.
"B.P. Marsh offers Denison and Partners more than a financial
investment, and the team brings a significant amount of insurance
experience, expertise, and relationships. This will be key to
Denison and Partners as we grow over the next number of years."
For further information:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk
Brian Marsh OBE +44 (0)20 7233 3112
Panmure Gordon (UK) Limited
Atholl Tweedie / Charles Leigh
Pemberton / Ailsa MacMaster +44 (0)20 7886 2500
Tavistock Communications Limited bpmarsh@tavistock.co.uk
Jos Simson / Simon Hudson / Tim +44 (0)20 7920 3150
Pearson
Notes to Editors:
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 30 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 approaching ten years.
- Ends -
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