Jack McVitie
Clare Burnett

Member Article

Leeds’ LEBC acquires further stake in private equity investor for £1 million

Leeds-based LEBC Holdings Ltd, the employee benefits consultancy group, has acquired an additional 12.02% stake of B.P. Marsh & Partners Plc, taking its holding in LEBC to 34.91%.

The acquisition was from an exiting former employee shareholder for a cash consideration of £1million.

B.P. Marsh has also provided LEBC’s Employee Benefit Trust with a further £1million of funding via a secured short term loan facility (repayable within 12 months) in order to allow the management team to increase their shareholding in LEBC.

B.P. Marsh has stated it views LEBC’s management team as highly skilled professional partners “who are capable of taking the business forward in line with its expectations, and to become the pre-eminent independent financial adviser in the UK.”

Commenting, Jack McVitie, chief executive of LEBC, said: “This transaction marks a new stage in the growth and development of LEBC. I look forward to working with my management team in company with B.P. Marsh to achieve continued success in the future.”

The B.P. Marsh Board also stated it is confident that this further investment in LEBC will be value accretive and believes that this is a commercially prudent opportunity to increase its shareholding, alongside the incumbent management team, in a growing specialist financial services company, further solidifying the longstanding partnership.

B.P. Marsh chairman, Brian Marsh OBE commented “I am pleased to conclude this transaction and look forward to the next stage of growth as we continue to develop our partnership with LEBC on strong foundations for the future.”

LEBC has 13 branch locations spread throughout the UK - Birmingham, Bristol, Cambridge, Cardiff, Chertsey, Edinburgh, Glasgow, Hull, Leeds, Leicester, London, Manchester and Reading.

This was posted in Bdaily's Members' News section by Clare Burnett .

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