REG - B.P. Marsh &Partners - New Investment - Denison and Partners Limited

B.P. Marsh & PartnersAnnouncement

24/03/2022 07:01

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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
£802,000.

 

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 (http://www.bpmarsh.co.uk)

 Brian Marsh OBE                                              +44 (0)20 7233 3112

 Panmure Gordon (UK) Limited                                  +44 (0)20 7886 2500

 Atholl Tweedie / Charles Leigh Pemberton / Ailsa MacMaster

 Tavistock Communications Limited                             bpmarsh@tavistock.co.uk (mailto:bpmarsh@tavistock.co.uk)

 Jos Simson / Simon Hudson / Tim Pearson                      +44 (0)20 7920 3150

 

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
(http://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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