BMS Group, the London-based impartial specialist re/insurance coverage dealer, has entered into an settlement to accumulate David Roberts & Companions (DR&P) from personal fairness agency Inflexion.
Monetary particulars of the deal weren’t disclosed.
Based in 1977, DR&P is without doubt one of the UK’s main impartial insurance coverage brokers. DR&P has a crew of virtually 400 individuals in 25 workplaces throughout the UK and Europe, dealing with in extra of £620 million GWP for shoppers.
Since 2019, DR&P has accomplished 14 acquisitions that includes many specialty retail brokers, MG Underwriting, a managing common agent, and London-based CLP Insurance coverage brokers and ARB Worldwide. After completion, which is topic to regulatory approvals, DR&P and its subsidiary corporations will proceed to function underneath their present manufacturers.
The acquisition creates a considerable alternative for BMS and DR&P to work collaboratively to boost consumer service throughout territories and specialisms. Leveraging the mixed experience of each companies in specialty retail, wholesale re/insurance coverage and MGAs will ship important worth to shoppers.
DR&P chief government, John Web page, and managing director, Simon Bland, will proceed of their roles, with web page reporting to Nick Cook dinner, CEO of BMS Group, and becoming a member of the group government committee.
“This landmark transaction is a major strategic step for BMS and a really proud second in our firm’s evolution,” commented Cook dinner in an announcement.
“By aligning these two companies, each of which have market-leading natural development and impressive growth plans, we create a formidable power. We’re delighted that DR&P chosen BMS as their new house amidst appreciable world curiosity,” Cook dinner mentioned. “Our shared values, equivalent to a dedication to individuals growth, a development mindset, worker possession, empowerment, and a dedication to take care of independence have been pivotal within the choice.”
“We’ve been exploring methods of maximising our energy in specialty retail, London re/insurance coverage and MGA markets for a while and are delighted to have present in BMS an ideal alternative to hitch forces with a extremely profitable, world enterprise with a deep dedication to impartial broking,” in accordance with Web page. “BMS’ dedication to distinctive consumer outcomes aligns nicely with our personal. We’ve numerous alternatives forward of us and I’m vastly excited in regards to the future for our mixed enterprise.”
The transaction marks BMS’s largest acquisition thus far and creates a enterprise managing over £8 billion of gross written premiums. BMS’s investor group, Eurazeo, British Columbia Funding Administration Company (BCI), and Preservation Capital Companions (PCP) supported the administration crew on this strategic acquisition, positioning BMS for additional development. The mixed capital energy of BMS’s buyers has empowered BMS to solidify its standing as one of many main impartial specialty insurance coverage brokers globally.
BMS have been suggested by Macquarie Capital, PwC, Skadden Arps and BMS Capital Advisory and DR&P have been suggested by Hines, Deloitte and DWF.
Supply: BMS
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