Investee Company, Hyperion, A

RNS Number : 5875T

B.P. Marsh & Partners PLC

09 June 2009

 



Date:                 9 June 2009

On behalf of:     B.P. Marsh & Partners Plc 

For immediate release

B.P. Marsh & Partners Plc

('B. P. Marsh', 'the Company' or 'the Group')

Investee Company, Hyperion, Announces Acquisition

B. P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to early stage financial services businesses, announced on 3rd June 2009 that it agreed to provide an Acquisition Finance Loan of €900,000 to Hyperion Insurance Group Limited ('Hyperion').  Hyperion, an international insurance group, reveals the details of the acquisition below.

Howden, Hyperion Insurance Group's broking arm, has signed a deal to acquire Hendricks & Co GmbH, the leading specialist Directors and Officers (D&O) and Commercial Legal Expenses broker in Germany.

Joining forces with the number one specialist D&O broker in Germany will give Howden immediate market leadership and will provide both companies with a platform for both product and geographic expansion.  

This is Hyperion's first major acquisition since 3i acquired a minority stake in the company in April 2008 and will further expand the Group's international distribution network, which in the last 12 months alone has seen new offices open in Hong Kong, the Middle East and Latin America. 

Brian Marsh, Chairman of B.P. Marsh & Partners Plc, commented: 

'Hyperion is focused on driving growth in its core produce lines and the acquisition of Hendricks & Co clearly fits with this strategy. Germany, as the EU's largest economy and with an increasing demand for their specialist products, has been a target for Howden, who are keen to expand their retail distribution network. We are delighted to be able to provide this support to facilitate Hyperion's planned expansion objectives. ' 

As litigation risks for professionals and executives spiral upwards, liability insurance cover is vital for individual and business protection. Specialist brokers like Howden and Hendricks have the skills to source the right cover at the right price and to provide strong claims support.

The deal will be completed on 1st October 2009.

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For further information:

B.P. Marsh & Partners Plc                         www.bpmarsh.co.uk

Brian Marsh OBE                                          [phone]

Nominated Adviser

Arbuthnot Securities

Katie Shelton/Nick Tulloch/Ed Gay                [phone]

Redleaf Communications (PR to BP Marsh)

Emma Kane/ Alicia Jennings                           [phone]

Notes to Editors:

About B.P. Marsh & Partners Plc

B.P. Marsh's current portfolio contains ten companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk. 

Over the past 19 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 and half years. 

Prior to Brian Marsh'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. 

Jonathan Newman is the Group Director of Finance and has over 10 years' experience in the financial services industry. Jonathan advises investee companies through several non-executive board appointments and evaluates new investment opportunities. 

Robert King is a Director and Group Company Secretary. He joined B.P. Marsh in May 2003 having started his career at PricewaterhouseCoopers. Since joining B.P. Marsh he has taken on responsibility for the Group's legal, compliance and secretarial functions and played a key role in the flotation of the Company.

About Hyperion Insurance Group Limited

Hyperion was established in 1994 and is headquartered in the City of London. B. P. Marsh first invested in Hyperion Insurance Group in 1994. Since then, Hyperion has grown to become an international insurance group with businesses covering wholesale and retail broking, reinsurance broking and underwriting, transacting business in over 50 countries around the world.  Hyperion employs over 700 people in 51 offices operating out of 18 countries. 

The Group was awarded a Queen's Award for Enterprise in International Trade in April 2007. Hyperion was ranked for the second year running in the 2008 Sunday Times Buyout Track 100. It was also ranked 27th in the 2008 Insurance Times Top 50 UK Brokers league table and 10th in Post Magazine's 2008 Top 25 City Brokers report.

Hyperion's shareholders include 3i, B. P. Marsh & Partners plc, and Murofo Investments SL.

Further information is available at Hyperion's website:  www.hyperiongrp.com

About Hendricks  

Established in 1993, Hendricks is the leading specialist D&O and commercial legal expenses broker in Germany. Its head office is in Dusseldorf, with branch offices in Hamburg and Munich. It has a market share of over 10%. The total headcount is 30, of which 15 are qualified lawyers, and is led by Michael Hendricks, an acknowledged national authority on directors' liabilities.  

The business has a unique position in the German market delivered by a quality offering, with a highly developed capability to generate differentiated products - enabled by the expertise of its staff. The company, spearheaded by its Hamburg office, is also developing a significant sector specialisation, targeting the financial services sector.  

 

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