Date: 9th November 2021
B.P. Marsh & Partners Plc
("B.P. Marsh", "the Company" or "the Group")
Investee Company Update - Nexus Underwriting Management Limited
B.P. Marsh, the specialist investor in early-stage financial services businesses, is pleased to announce that on 8th November 2021, its investee company Nexus Underwriting Management Limited ("Nexus"), the leading specialist underwriting agency and independent insurance intermediary consolidator, completed the acquisition of Peter Hill Credit & Financial Risks Limited ("Peter Hill").
Peter Hill is a UK Trade Credit and Surety broker based in Northampton.
This acquisition of Peter Hill was undertaken via Nexus' broking arm, Xenia Broking Group Limited ("Xenia"), the largest independent trade credit broker in the UK.
Peter Hill's product offering and client base complements that of Xenia's existing business, in terms of penetration across clients, sectors and regions in the UK. Peter Hill has a reputation in the Trade Credit and Surety market as a high-quality independent broker, with strong and longstanding client relationships.
Peter Hill's existing Management Team, who are joining Xenia as part of the acquisition, will bring with them their knowledge and expertise, enhancing Xenia's product offering and geographical reach in the UK.
Colin Thompson, Founder and Group CEO of Nexus, commented:
"Peter Hill is Nexus' 21st acquisition since inception and is a perfect adjunct to Xenia's existing service offering. We welcome Peter Hill's team to the Nexus family and believe that their longstanding experience will greatly contribute to the growth and development of Xenia moving forward."
Commenting on this acquisition, the Group's Chief Investment Officer and Nominee Director on the Board of Nexus, Daniel Topping, commented:
"B.P. Marsh & Partners were glad to support Nexus in the acquisition of Peter Hill, as part of their ongoing growth strategy. This is the first transaction completed since their financing arrangement with Barings LLC, which Nexus' management believe will be the first of many."
For further information:
| B.P. Marsh & Partners Plc | |
| Brian Marsh OBE | +44 (0)20 7233 3112 |
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| Nominated Adviser & Broker Panmure Gordon |
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| Atholl Tweedie / Charles Leigh-Pemberton / Ailsa MacMaster | +44 (0)20 7886 2500 |
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| Financial PR & Investor Relations |
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| Tavistock | bpmarsh@tavistock.co.uk |
| Simon Hudson / Tim Pearson | +44 (0)20 7920 3150 |
Notes to Editors:
B.P. Marsh's current portfolio contains seventeen companies. More detailed descriptions of the portfolio can be found at 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. Several of the directors have worked with each other in previous roles, and all have worked with each other for approaching ten years.
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