(Boursier.com) — Eurazeo , through its Mid-large buyout(1) team and partners, is expected to invest up to £355 million in BMS Group and acquire up to 34% of its capital. Eurazeo and its partners would join in the capital of BMS its historical shareholders, British Columbia Investment Management Corporation (BCI), Preservation Capital Partners (PCP) as well as the management and employees of BMS. Eurazeo and BCI would hold the majority of the company’s capital for this new phase of its development. The completion of the transaction is subject to the approval of the competent authorities.
The final terms of the operation will be communicated at closing.
Founded in 1980, BMS is a leading independent insurance and reinsurance broker providing comprehensive and customized solutions focusing on complex risks as well as capital markets advisory services. Based in London, the company, which enjoys a solid reputation, operates in 14 countries through 28 offices (United States, Canada, Latin America, Australia, Europe and Asia).
BMS is Eurazeo’s latest investment in the financial services sector, one of the Group’s 4 key investment sectors. Eurazeo, BCI and PCP will support Nick Cook, CEO of BMS, and the BMS management team in pursuing their growth strategy. Since 2019, the company has benefited from very strong development, with turnover increasing from £100m to more than £250m in 2022 and an increase of around 75% in the number of employees with 900 employees across the world. With the support of its shareholders, BMS will be able to develop internationally both through organic growth and external growth.
EURAZEO’S EXPERTISE IN FINANCIAL SERVICES
Eurazeo has already invested more than 2.5 billion euros in financial services in more than 30 companies at all stages of their development. The 30 investment professionals in Venture, Growth and Buyout, specializing in financial services, have acquired solid expertise in this sector. This team also benefits from the Eurazeo platform which, through all of the Group’s investment strategies, accelerates and improves sourcing, due diligence and value creation. Insurance, and more particularly complex risks, are key sub-sectors for Eurazeo, which has invested in Albingia (an independent player in corporate risk coverage) and Descartes Underwriting (Insurtech specializing in complex risks).
(1) Acting within the management company Eurazeo Mid Cap.