B.P. Marsh & Partners PLC
18 May 2007
Date: 18th May 2007
On behalf of: B.P. Marsh & Partners Plc ('B.P. Marsh' or 'The Company')
Embargoed until: 0700hrs
B.P. Marsh & Partners Plc
£5.5m Hyperion Insurance Group Limited Rights Issue
B.P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to
financial services businesses, today announces that it has participated in a
£5.5m rights issue of Hyperion Insurance Group Limited ('Hyperion'), one of the
Company's investee companies. Hyperion provides expertise in selected specialist
insurance and reinsurance fields.
The rights issue, which was approved at an Extraordinary General Meeting on 19th
April, will be Hyperion's second fundraising since February 2006 when the
insurance group raised £5.1m and brought in a new shareholder, Murofo
Investments SLU, a Spanish Investment Company.
B.P.Marsh took up its pro-rata proportion of the rights issue at a cost of
£1,546,144 thereby retaining its 27.89% equity interest in Hyperion.
This second round of funding comes after another successful year in relation to
trading performance and will provide funding for start-ups as well as liquidity
in the business. The rights issue will also provide an opportunity for the Group
to restructure internally thereby creating a solid platform for its next stage
of growth.
Brian Marsh OBE, Chairman of B.P. Marsh & Partners Plc, commented:
'We are delighted to support Hyperion by participating in this fund raising.
Hyperion has an excellent track record and an exciting future ahead of it. These
funds will enable the company to achieve its next phase of growth not only
through acquisition but also by allowing the company to restructure and
consolidate internally.'
Hyperion was last month awarded a Queen's Award for Enterprise in International
Trade.
- ends -
For further information:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk
Brian Marsh OBE +44 (0)20 7730 2626
Nominated Advisor
Nabarro Wells & Co. Limited
David Nabarro/Marc Cramsie +44 (0) 20 7710 7400
Redleaf Communications (PR to BP Marsh)
Emma Kane/Tom Newman +44 (0)20 7822 0200
-ends-
Notes to Editors:
About Hyperion:
Established in 1994 and headquartered in the City of London, the Hyperion
Insurance Group was ranked as one of the UK's fastest growing private equity
backed companies in the 2007 Sunday Times Buyout Track 100, and 10th in the Post
Magazine 2006 Top 25 City Brokers report. In April 2007 the Group was awarded a
Queen's Award for Enterprise in International Trade.
The Hyperion Insurance Group comprises 25 operations in 13 countries employing
over 370 people, and operating through four distinct platforms - wholesale and
retail broking, underwriting and reinsurance.
About B.P. Marsh:
B.P. Marsh's current portfolio contains eleven companies. More detailed
descriptions of the portfolio can be found at www.bpmarsh.co.uk.
Over the past 16 years, 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 OBE'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.
Managing Director, Natasha Dunbar, has over 10 years' experience in the
financial services industry. Having joined the Company in 1994 she was made
managing director in March 2002. Natasha is responsible for the day to day
running of all operational aspects of the business and works closely with Brian
Marsh in defining the strategic development of the Company.
Francis de Zulueta is the Company's Development Director. With a wide-ranging
knowledge of the financial services market, he seeks out, researches and
evaluates potential new investments for BP Marsh. Following a 23-year broking
career with Willis Faber and Aon, among others, he took an active interest in
the mergers, acquisitions and venture capital business of Marsh McLennan.
Jonathan Newman is the Group Director of Finance and has 9 years' experience in
the financial services industry. Jonathan advises investee companies through
several non-executive board appointments and evaluates new investment
opportunities.
This information is provided by RNS
The company news service from the London Stock Exchange
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