B.P. Marsh & Partners PLC Investment in Lilley Plummer Risks Limited (5709Q)
21 Octubre 2019 - 5:45AM
UK Regulatory
TIDMBPM
RNS Number : 5709Q
B.P. Marsh & Partners PLC
21 October 2019
Date: 21 October 2019
On behalf of: B.P. Marsh & Partners PLC
Immediate release
B.P. Marsh & Partners Plc
Investment in Lilley Plummer Risks Limited
("B.P. Marsh", "the Company" or "the Group")
The Board of B.P. Marsh & Partners Plc, the specialist
investor in early stage financial services intermediaries (AIM:
BPM), is pleased to announce its investment in Lilley Plummer Risks
Limited ("Lilley Plummer"), a newly formed specialist Marine
Lloyd's broker, based in London. This transaction has resulted in
the Company taking a 30% equity stake in Lilley Plummer for a total
cash consideration of GBP1m, in a mixture of Redeemable and
Non-Redeemable Preference shares.
The experienced management team at Lilley Plummer is formed of
Stuart Lilley and Dan Plummer. Prior to founding Lilley Plummer,
Dan Plummer gained valuable experience across the marine market
having held senior positions at CR Marine & Aviation SRL,
Windsor Partners LLP and Howden Insurance Brokers Ltd ("Howden").
Stuart Lilley, prior to Lilley Plummer, held roles at International
Risk Solutions, FP Marine and latterly Howden. The two individuals
have over two decades of experience in the London and International
Marine Market.
Prior to founding Lilley Plummer, Stuart and Dan established the
London Market Marine operation for a large international
(Re)Insurance broking business headquartered in Europe.
The Investment made by B.P. Marsh will be used to finance the
growth of the business within its specialist sector via the hiring
of other specialist brokers and broking teams.
Stuart Lilley, CEO and Dan Plummer, Managing Director of Lilley
Plummer released a joint statement: "We're delighted to partner
with B.P. Marsh for this exciting new chapter. We believe that an
independent broker in a sector which is seemingly consolidating
will provide the much needed bespoke service that clients have come
to expect and will create huge opportunities in the future. The
experience of B.P. Marsh will be a huge asset for us and we look
forward to working together with Dan Topping, Abigail Barber and
the team."
Daniel Topping, Chief Investment Officer of the Group commented:
"I am pleased to complete our investment in Lilley Plummer to which
we can bring our experience and market knowledge. This is very much
in our heartland of investing in an experienced, skilled and
motivated Management Team. We are looking forward to working with
Dan and Stuart to see them realise, and hopefully exceed, our joint
goals."
As part of this investment Daniel Topping and Abigail Barber (an
Investment Director within B.P. Marsh) will be joining the Board of
Lilley Plummer.
For further information:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk
Brian Marsh OBE / Sinead O'Haire +44 (0)20 7233 3112
Nominated Adviser & Broker
Panmure Gordon (UK) Limited
Atholl Tweedie / Charles Leigh-Pemberton /
Ailsa MacMaster +44 (0)20 7886 2500
Notes to Editors:
About B.P. Marsh & Partners Plc
B.P. Marsh's current portfolio contains sixteen 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, with
over a decade of experience in the financial services sector. 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. Having spent two years at
an independent London accountancy practice, he joined the company
in 2007. He was appointed as a Director in 2011 and promoted to his
current role in 2015.
Dan is a standing member of the B.P. Marsh Investment and
Valuation Committees and currently serves as a Board Director
across the portfolio.
Jonathan Newman is a Chartered Management Accountant and is the
Group Director of Finance and has over 20 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 Nominee Director on the Boards
of three Investee Companies, and provides senior financial support
and advice to all companies within the Group's portfolio as well as
evaluating new investment opportunities.
- Ends -
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END
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