REG - B.P. Marsh &Partners - New Investment – CEE Specialty s.r.o.

B.P. Marsh & PartnersAnnouncement

30/09/2024 14:30

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RNS Number : 2900G  B.P. Marsh & Partners PLC  30 September 2024

 

30 September 2024

 

B.P. Marsh & Partners Plc

("B.P. Marsh", "the Company" or "the Group")

New Investment - CEE Specialty s.r.o.

 

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 44% shareholding in CEE Specialty s.r.o. ("CEE Specialty").
B.P. Marsh provided a total of €3.3m of funding which was utilised in full
to effect a management buy-out.

 

CEE Specialty is an underwriting agency founded in 2019 specialising in Marine
Hull, Bonds and Liability Insurance, targeting business in  Central and
Eastern Europe. CEE Specialty is based in Prague, Czech Republic with a branch
office in Bucharest, Romania and has a total of 15 insurance professionals.

 

The business is led by James Grindley (CEO) and Tomáš Maršálek (CFO), with
CEE Specialty previously being majority owned by CEE Specialty Holdings S.A.,
a subsidiary of Royalton Capital Investors II L.P. ("Royalton"), an
alternative investment fund. With exclusive support from B.P. Marsh, CEE
Specialty has completed a buyout from Royalton, with Management now owning 56%
of CEE Specialty.

 

James Grindley has 28 years of experience in various executive management
positions within the re/insurance industry, including Lloyd's and the Central
and Eastern European markets.

 

Tomáš Maršálek has 19 years of experience in fund management and venture
capital. This has included various senior executive management positions at
SMEs (including start-ups), mainly as Chief Financial Officer.

 

Dan Topping, Chief Investment Officer of the Company, who has been appointed
to the Board of CEE Specialty commented:-

 

"We are excited to partner with a motivated management team with a
well-established business, a solid client base and significant upside
potential. We look forward to working with James and Tomáš over the coming
years in developing the business.

 

"Our investment in CEE Specialty is a testament to our modus operandi,
supporting a management team to undertake a management buy-out and receive
majority control of the business, allowing them to take the business to next
level of growth."

 

James Grindley and Tomáš Maršálek, joint Founders of CEE Specialty,
commented:-

 

"We are delighted to have B.P. Marsh as a partner in CEE Specialty to support
us in achieving our long-term ambitions and goals set out in our business
plan. In addition to B.P. Marsh's financial investment, their team brings
significant insurance experience and expertise.

 

"Over the coming years, CEE Specialty is looking to continue its profitable
growth by further expanding and diversifying its array of marine, bond and
liability products. We see B.P. Marsh as the perfect partner to assist us in
bringing about this growth."

 

 

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

 Nominated Adviser & Joint Corporate Broker

 Panmure Liberum Limited
 Atholl Tweedie / Amrit Mahbubani / Ailsa MacMaster  +44 (0)20 7886 2500

 Joint Corporate Broker

 Singer Capital Markets Advisory LLP
 Charles Leigh Pemberton / James Moat / Asha Chotai  +44 (0)20 7496 3000

 Financial PR & Investor Relations
 Tavistock                                           bpmarsh@tavistock.co.uk
 Simon Hudson / Tim Pearson / Katie Hopkins          +44 (0)20 7920 3150

 

Notes to Editors:

B.P. Marsh's current portfolio contains sixteen 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 over ten
years.

 

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