LONDON: B.P. Marsh & Partners Plc (AIM: BPM), a specialist private equity investor in early-stage financial services firms, said on Tuesday it has invested £10 million in Oneglobal Broking Holdings Limited, a London-based international insurance broker majority-owned by J.C. Flowers & Co.
The investment, structured as cumulative convertible preferred shares, will entitle B.P. Marsh to an 8% annual dividend and minority shareholder rights. Upon conversion, the stake will represent 10% of Oneglobal’s fully diluted share capital.
The capital injection is aimed at supporting Oneglobal’s strategic growth, including the acquisition of a Bermudian specialty insurance broker and expansion into Asian markets.
Founded in 2018 through the merger of two Lloyd’s brokers, Oneglobal operates across 15 offices globally and forecasts brokerage revenue of £50 million in 2025. Its specialties span marine, property, aviation, financial lines, energy, and casualty insurance.
“This opportunity aligns with our people-first investment philosophy and demonstrates our ability to structure bespoke deals with strong return profiles,” said B.P. Marsh Chairman Brian Marsh.
Dan Topping, Chief Investment Officer at B.P. Marsh, will join Oneglobal’s board as part of the transaction. “Oneglobal’s ambition and leadership make it an ideal fit for our portfolio,” he said.
Jonathan Palmer-Brown, Oneglobal’s Group Chairman, welcomed the partnership, citing B.P. Marsh’s sector expertise and funding as key to executing the firm’s acquisition pipeline.
J.C. Flowers Managing Director Jonathan Cox added, “We look forward to a successful partnership with B.P. Marsh as Oneglobal continues to grow at Lloyd’s and internationally.”