BMS Group, the independent specialist insurance and reinsurance broker, is pleased to announce it has completed the acquisition of leading UK broker David Roberts & Partners (DR&P).
DR&P chief executive, John Page, and managing director, Simon Bland, continue in their roles, with Page now reporting to Nick Cook, CEO of BMS Group, and joining the group executive committee. DR&P and its subsidiary companies will continue to operate under their existing brands.
The acquisition of DR&P brings a highly respected, diverse team of experts to BMS Group, enriching its capabilities in delivering tailored insurance and reinsurance solutions. The acquisition also expands BMS’s presence in the UK, particularly in the retail sector and speciality London markets. DR&P will benefit from enhanced data and analytical capabilities, as well as collaborative opportunities in areas where both businesses excel.
Cook said: “We are delighted to officially welcome DR&P to the BMS Group. The period leading up to the closure has demonstrated how culturally aligned both businesses are, which is the key consideration in our M&A strategy. We now look forward to the next phase, combining the expertise of both businesses and working collaboratively to enhance client service across territories and specialisms. John, Simon, and I have ambitious plans to deliver our shared vision ensuring our people, clients, and partners reap the benefits of this relationship.”
Page added: “Today marks a significant step for DR&P. We can now access new opportunities as part of a successful, independent global broking group. Our focus going forward will be on executing a transition strategy that continues to put client outcomes at the forefront of everything that we do.”
The transaction marks BMS’s largest acquisition to date and creates a business managing more than £8 billion of gross written premiums. BMS’s investors - Eurazeo, British Columbia Investment Management Corporation (BCI), and Preservation Capital Partners (PCP) - supported the management team in this strategic acquisition, positioning BMS for further growth.
The completion of the DR&P acquisition marks a continuation of BMS’s M&A activity. Last week it was announced that BMS have signed a deal to acquire Rasher - the Iberia and Latam specialist Surety and Corporate broker.
BMS was advised by Macquarie Capital, PwC, Skadden Arps and BMS Capital Advisory and DR&P were advised by Hines, Deloitte and DWF.
