Business
New Investment – SRT & Partners Limited
New Investment – SRT & Partners Limited.
About this update from B.p. Marsh & Partners Plc
[{"type":"text","content":"\n\n30 October 2024\n \n \nB.P. Marsh & Partners Plc\n(\"B.P. Marsh\", \"the Company\" or \"the Group\")\n \nNew Investment - SRT & Partners Limited\n \nB.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 30% Cumulative Preferred Ordinary shareholding in SRT & Partners Limited (\"SRT\"), a start up UK Retail and London Market broker.\n \nB.P. Marsh has provided £2.5m of funding via a mixture of equity and loan, which has been fully drawn down on completion.\n \nWith the backing of B.P. Marsh, the SRT Management team is committed to establishing a premier, client-focused Lloyd's and London Market brokerage, headquartered in London, furnishing its clients and exclusive partners with access to the specialist Broking and Underwriting services they require.\n \nSRT's plan focuses on delivering sustained growth through a combined strategy of building a London Market brokerage, the organic expansion of its already established UK wide client base by offering the diversified products available within the Group and the future targeted acquisitions of UK retail brokers, who are independently owned and known to the SRT Management team.\n \nThe Group's funds have been utilised by SRT to complete on its first two acquisitions, being Read Hunt Limited, an independent retail insurance broker, and First Business Finance Limited an independent asset finance broker. Both businesses specialise in service provision for commercial clients in the construction, manufacturing and transport industries.\n \nSRT's Co-Founders, Tom Shipston and Tom Castle have significant experience within insurance broking and asset finance businesses. \n \nTom Shipston, Co-Founder and CEO, has held several senior positions within the London Market. Most recently, he served as Head of the Property & Casualty Division at Citynet, the UK Lloyd's Broking arm of PIB Group. \n \nTom Castle, Co-Founder and CCO, has also held senior leadership roles within the financial services industry, including his role as Managing Director and Co-Founder of First Business Protection Limited, a brand and trading style which SRT will continue to use.\n \nDan Topping, Chief Investment Officer...