BMS Group announces that a definitive agreement has been entered into with Eurazeo for an additional investment in the business. Existing shareholders British Columbia Investment Management Corporation (BCI), Preservation Capital Partners (PCP), management and staff will continue to be invested in the business. The transaction is subject to regulatory approvals.
In the period 2019 to 2022, revenues at BMS have increased from c.£100m to more than £250m. BMS has made eight acquisitions over the past three years, the most recent being Eisenar in Spain. Staff numbers have risen by more than 70% to c.900 people across specialty and reinsurance disciplines. BMS has also recently strengthened the leadership team including Nick Gillett (CEO, Int.), Eliot Powell, (Group CCO), Louisa Erwin (Group Head, DEI), Ian Matheson, (Chair, Canada), Chris McDowell, (CEO, Bermuda), Ted Hodgkinson, (Chair, Asia).
Operating across 14 countries, with 28 offices this additional investment announced today will enable an acceleration in BMS’ pace of growth across its core trading divisions as well as focused investment to continue to deliver exceptional results for clients.
BMS’ management team, led by chief executive officer Nick Cook, will all remain in their roles following completion of the transaction, and management and staff of BMS will remain significant shareholders in the company.
Maxime de Bentzmann, managing director, Eurazeo – Mid-large Buyout, commented: ”We have been exploring specialty insurance and reinsurance markets for some time and are delighted to have found, in BMS, another perfect opportunity to partner with a successful, global business with numerous transformation levers. Their shining record over recent years, under the leadership of Nick Cook and his management team, is one we admire, and we are genuinely excited to join forces to support their future success.”
BMS were advised by Evercore, BMS Capital Advisory and Macfarlanes LLP.
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