According to reports, B.P. Marsh will receive £21.65 million in cash, representing a substantial return on its initial investment of £0.3 million. Lilley Plummer Risks has experienced significant growth since B.P. Marsh’s initial investment in 2019.
Clear London Markets Limited, majority-owned by Goldman Sachs, is acquiring Lilley Plummer Risks.
The sale marks a successful exit for B.P. Marsh and highlights its ability to identify and invest in high-growth financial services businesses. With the proceeds from the sale, B.P. Marsh is well-positioned to continue its investment strategy and pursue new opportunities.
B.P. Marsh & Partners Plc has also announced plans to allocate £7 million in additional dividends over the next three years, thanks to the successful sale of its stake in Lilley Plummer Risks.
They will continue to balance its investment strategy, allocating funds to both existing ventures and new opportunities. The increased dividend payout reflects the company’s strong financial position and commitment to shareholder returns.
The company will distribute £5 million in dividends each year for the next three years and will continue to invest in promising financial services businesses. B.P. Marsh & Partners Plc is reportedly confident in its ability to replace the income lost from the sale of Lilley Plummer Risks through reinvestment.
Abigail Benson, the Company’s Nominee Director on the Board of Lilley Plummer Risks, will resign from this role on completion of the sale.
Commenting on this disposal, the Group’s Chief Investment Officer, Dan Topping stated: “It has been a pleasure to work with Stuart Lilley, Dan Plummer and the team at Lilley Plummer Risks over the last five years. The Group’s founding investment in Lilley Plummer Risks, and its eventual sale, is testament to our approach in seeking partnerships with skilled management teams to create and ultimately realise value for our shareholders.”
He continued: “We are delighted to have been part of the growth of Lilley Plummer Risks and wish the whole team all the very best for the next chapter in their growth and development in partnership with Clear Insurance.”
Stuart Lilley (CEO) and Dan Plummer (Managing Director), added: “It has been a privilege to have been a part of the B.P. Marsh portfolio over the last five years. As valued partners, Dan and Abi have been instrumental in helping the business grow to a level that leads us into an exciting new chapter with The Clear Group and Goldman Sachs.
“We would like to sincerely thank everyone at B.P. Marsh for all their expert guidance and friendship since forming LPR back in October 2019 and wish them all the very best for the future.”
