GRP exploring sale and reinvestment options
It is believed that the consolidator is seeking fresh investment that could see current investors, including Peter Cullum, have their stake diluted as backer Penta reaches the end of its traditional investment period.
Global Risk Partners and its private equity backer is believed to be exploring options for partial sale and reinvestment, Insurance Age has learned.
The Peter Cullum-founded broking group has been backed by Penta Capital Investment since 2013.
Penta Capital has invested in GRP twice as long as its two previous general insurance assets which were specialist professional indemnity MGA PI Direct/Martello (invested in August 2004, divested in November 2006 at 2.5 times cost of investment) and
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