Cripps Pemberton Greenish advises B.P. Marsh & Company on its investment in Lloyd’s insurance broker
Cripps Pemberton Greenish has advised new client B.P. Marsh & Company on its private equity investment in insurance broker, Lilley Plummer Risks Ltd.
B.P. Marsh is a specialist investor in early stage financial services intermediaries and Lilley Plummer Risks Limited is a newly formed specialist Marine Lloyd’s broker, based in London.
This deal gives B.P. Marsh a 30% equity stake in Lilley Plummer for a total cash consideration of £1m, in a mixture of Redeemable and Non-Redeemable Preference shares. The investment will be used to finance the growth of the business within its specialist sector, via the hiring of other specialist brokers and broking teams.
Daniel Topping, Chief Investment Officer of the Group commented: “We valued the support we received from Cripps Pemberton Greenish. The team has a good understanding of our sector, was responsive, pragmatic and ensured we were always kept up to date as the deal progressed.”