B.P. Marsh & Partners PLC (LSE-AIM: BPM), a London, UK based specialist private equity investor in early stage financial services businesses, has acquired 30% Cumulative Preferred Ordinary shareholding in Toronto based Stewart Specialty Risk Underwriting Ltd. (SSRU).
Financial terms were not disclosed. B.P. Marsh & Partners typically invests amounts of up to £3.5m in initial funding.
In addition to the equity investment, B.P. Marsh & Partners has also provided a six year loan facility of CDN $0.85m to SSRU.
Established by CEO Stephen Stewart in 2016, Stewart Specialty Risk Underwriting Ltd. provide specialist insurance products to a wide array of clients in the Construction, Manufacturing, Onshore Energy, Public Entity and Transportation sectors.
Following the investment, Oliver Bogue, Investment Director of B.P. Marsh & Partners, has joined Stewart on the board of SSRU.
photo credit: B.P. Marsh & Partners