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(Sharecast News) - Specialist private equity investor BP Marsh & Partners announced the acquisition of a 27% shareholding in London-based underwriting agency Cameron Specialty HoldCo.
The AIM-traded firm said the investment, worth up to £1.7m in a mix of equity and loan funding, would be part of its insurance intermediary portfolio.
Cameron Specialty, founded in 2021, specialises in UK property insurance, with a focus on the commercial combined and property owners sectors.
With support from BP Marsh, the company was planning to expand into the Republic of Ireland and continental Europe and diversify its offerings across additional insurance lines.
Tom Kirkland, founder and chief executive officer of Cameron Specialty, said: "We are excited to welcome BP Marsh as a partner in Cameron Specialty as we embark on the next stage of our growth journey.
"Their expertise in the insurance sector, combined with a proven track record of supporting entrepreneurial businesses, makes them an ideal partner for us."
Non-executive chairman Adrian Colosso added, "This partnership marks an exciting milestone for Cameron Specialty as we continue to grow and strengthen our position in the market."
Dan Topping, BP.Marsh's chief investment officer, had joined Cameron Specialty's board.
"We are pleased to be making this investment in Cameron Specialty, a business led by a highly experienced team," he said.
"Cameron Specialty represents a strong addition to our diversified portfolio of insurance intermediaries and aligns well with the type of business we have successfully backed and developed over the past 30 years."
The company's loan facility was partially drawn upon completion of the deal.
At 1209 BST, shares in BP Marsh & Partners were up 0.73% at 694p.
Reporting by Josh White for Sharecast.com.
