BP Marsh invests in SRT & Partners
B.P. Marsh, the specialist private equity investor in early-stage financial services businesses, has acquired a 30% stake in SRT & Partners, a UK retail and London market broker.
B.P. Marsh has provided £2.5 million of funding via a mixture of equity and debt, which has been fully drawn down on completion.
SRT’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.
The group’s funds have been utilized 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 specialize in service provision for commercial clients in the construction, manufacturing and transport industries.
“We are pleased with this investment in SRT, founded by a skilled and experienced Management team. B.P. Marsh look forward to working with the co-founders Tom Shipston and Tom Castle to deliver on their business plan, both in building a London market brokerage and expanding their UK retail operation.” – Dan Topping, Chief Investment Officer.
“We are delighted to be entering into partnership with B.P. Marsh, an organisation with a proven track record in the UK retail and wholesale space. Our goal is to build SRT into a market-leading, broking provider in the UK, by becoming a valued and key strategic partner for our clients. Our vision, launching with the clear potential of the consolidated proposition of Read Hunt and First Business Finance, will provide a platform for growth with its unique offering to existing commercial clients and new partners alike. We look forward to working with B.P. Marsh over the years to come to achieve this vision.” – Tom Shipston and Tom Castle, co-founders of SRT.
