Lloyd’s start-up buys regional broker following PE investment
Start-up Lloyd’s broker SRT & Partners has acquired regional corporate player Read Hunt following investment by BP Marsh.
Read Hunt is an independent retail insurance broker based in Rotherham. SRT also completed the purchase of independent asset finance broker First Business Finance.
Both businesses specialise in service provision for commercial clients in the construction, manufacturing and transport industries.
BP Marsh acquired a 30% cumulative preferred ordinary shareholding in SRT. The specialist private equity investor has provided £2.5m of funding through a mix of equity and loan, which has been fully drawn
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