Reinsurance News

B.P. Marsh to acquire 36% stake in Agri Services

15th July 2019 - Author: Charlie Wood

Venture capital provider B.P. Marsh & Partners Plc has announced an investment into Sydney-based holding company Agri Services.

bp-marsh-and-partners-logoThe deal will see Marsh acquire a 36% equity stake in Agri for an initial cash consideration of AU$1.47m (£817,000), and further consideration of up to AU$1.13m (£628,000) may become payable.

In turn, Agri is set to acquire 100% of Ag Guard Pty Ltd, a company that provides insurance solutions for the Australian agricultural sector.

Dan Topping, B.P. Marsh’s Chief Investment Officer, who has been appointed to the Board of Agri Services commented, “The investment in Agri Services sees B.P. Marsh backing a strong and experienced management team in a business that is capable of becoming a serious market player over the next 5 years. We look forward to helping them grow their business.”

Commenting on the investment, Agri’s Founder and Managing Director Alex Cohn stated, “We are genuinely thrilled to have B.P. Marsh as a partner going forward.”

“B.P. Marsh acquiring a minority stake in the business allows us to focus on what we do best, whilst still receiving the benefit of their invaluable experience at a board level for growing and guiding the business.”

“We look forward to working with Dan Topping and the team at B.P. Marsh as we enter this exciting phase of development.”

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