(Bloomberg) -- Inflexion is nearing a sale of its majority stake in David Roberts & Partners in a deal that values the UK insurance broker at about £450 million ($579 million), according to people familiar with the matter.
The private equity firm is in advanced talks to sell its DR&P holding to BMS Group, a specialist insurance and reinsurance broker, said the people, who asked not to be identified as the information is private.
Founded in 1977, DR&P has a team of almost 400 people in 25 offices across the UK and Europe, handling more than £620 million worth of gross written premiums for clients. Inflexion, through Inflexion Enterprise Fund V, invested in the company for an undisclosed amount in 2021. DR&P has made 14 acquisitions since Inflexion bought the stake.
The potential exit from DR&P would follow Inflexion’s sale of insurer Bollington Wilson Group Ltd. to US-listed Arthur J. Gallagher & Co. in 2021. Inflexion is set to generate about ten times return from the DR&P investment, the people said.
A representative for Inflexion declined to comment, while a representative for BMS wasn’t immediately available for comment.
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