Besso targets acquisitions after share buy-back
The management of Besso Insurance Group have bought 15% of the business in a £1.1m deal ahead of an acquisition drive of specialist firms and broker teams.
The deal with Brian Marsh Enterprises and BP Marsh & Partners saw Besso's management increase their stake in the independent Lloyd's broker to 70%. BP Marsh retains the remaining 30%.
Michael Wade, chairman at Besso, said: "This share purchase marks an important step forward for us.
"Our key business producers will become significant shareholders in Besso and consequently the management team's interest is aligned with shareholders in focusing on building our successful independent Lloyd's broker
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