RNS Number:7878P
B.P. Marsh & Partners PLC
11 March 2008
Date: 11th March 2008
On behalf of: B.P. Marsh & Partners Plc ("B. P. Marsh" or the "Company")
B.P. Marsh & Partners Plc
Investment in Small Business Broker
B. P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to early
stage financial services businesses, announces that it has acquired a 35% equity
stake in Amberglobe Limited ("Amberglobe") for consideration of £70,000.
The Business Sales Centre, which is the trading name of Amberglobe, is a start
up venture that specialises in acting for the buyers and sellers of small
businesses in the sub £2 million price category such as childcare centres, care
homes, corner shops, restaurants, pubs and post offices. It was founded by its
Managing Director, Rupert Cattell, who has over 20 years' experience as a
corporate financier and business broker. Further information on Amberglobe is
available via its website: www.businesssalescentre.com
B. P. Marsh's investment consists of an equity investment of £70,000 and a loan
facility of £250,000, together with an agreement to provide additional loan
funding of up to £380,000, subject to conditions. B. P. Marsh financed the
acquisition from existing cash resources. The funds invested will be used to
accelerate Amberglobe's growth plans. In line with the Company's investment
approach, a B. P. Marsh director will join the Amberglobe board.
Commenting on the investment, Brian Marsh OBE, B.P. Marsh's Chairman, said:
"Rupert has a strong and proven track record in growing businesses and is an
experienced broker of private businesses. We are delighted to have the
opportunity to invest in Amberglobe."
Rupert Cattell, Managing Director of Amberglobe Limited, commented:
"Our target customers are the eclectic business assortments you typically find
in industrial estates outside small towns across the length and breadth of the
UK. There are significant opportunities in this market and a wealth of mom and
pop businesses that are too small for venture capitalists but are perfect
opportunities for people wanting to buy an income or to change their lifestyle.
I am delighted that Amberglobe has attracted
B. P. Marsh as an investor in the Company and look forward to benefiting from
the close relationship we will have with them as investors and on our board."
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For further information:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk
Brian Marsh OBE +44 (0)20 7730 2626
Nominated Adviser
Nabarro Wells & Co. Limited
David Nabarro/Marc Cramsie +44(0) 20 7710 7400
Redleaf Communications (PR to B.P. Marsh)
Emma Kane/Tom Newman +44 (0)20 7822 0200
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Notes to Editors:
About B.P. Marsh & Partners Plc
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 18 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 three and a
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.
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 B.P. 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 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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