Beechbrook Capital provides growth finance to Seventeen Group
12 July 2019 - Beechbrook Capital’s second UK SME Credit fund has recently supported Seventeen Group, a privately owned insurance group which includes James Hallam insurance brokers, Touchstone Underwriting and 4Sight Risk Management.
Beechbrook’s investment has enabled Seventeen to fund its recently-announced acquisitions of Graybrook Insurance Brokers (“Graybrook”) and Walker Persson & Spargo (“WPS”). Graybrook was formed in 1972 and is a specialist medical malpractice and professional indemnity broker focusing on schemes for clinical organisations and associations. Graybrook will be integrated with James Hallam’s existing specialist team within the healthcare sector, ProMed, to create a leading medical sector insurance team within the UK and international market. WPS was established in 1968 and is an insurance broker focused on town councils, independent stores and the hospitality sector. This acquisition will reinforce Seventeen’s strong offering in these sectors and will further expand the company’s geographical presence in the South West.
Paul Anscombe, Chief Executive of Seventeen Group, commented: “Seventeen Group is delighted to have been supported by Beechbrook in our recent acquisitions. The response of the Beechbrook team was excellent; they quickly got to understand our business plans so that an appropriate funding structure could be agreed in accordance with our timeframe. The process was simple and transparent. We are very pleased to be working with Beechbrook.”
Tim Johnston, Investment Director at Beechbrook Capital, added: “We have thoroughly enjoyed working with Seventeen Group and we are delighted to be the new funding partner for this market-leading business. We very much look forward to supporting the group with its further growth plans over the coming years.”