BP Marsh acquires AU$1.47m stake in Australian firm Agri Services

Insurance investment company BP Marsh & Partners has acquired 36 percent equity stake in Sydney-based Agri Services Company for an initial cash consideration of AU$1.47 million (£817,000), and further consideration of up to AU$1.13 million (£628,000) may become payable.

At the same time, Agri Services will acquire 100 percent of Ag Guard, which provides insurance solutions for the Australian agricultural sector.

Dan Topping, BP Marsh's chief investment officer, who has been appointed to the bof Agri Services said: "The investment in Agri Services sees BP Marsh backing a strong and experienced management team in a business that is capable of becoming a serious market player over the next 5 years. We look forward to helping them grow their business."

Alex Cohn, Agri’s founder and managing director, said: "We are genuinely thrilled to have BP Marsh as a partner going forward. BP Marsh acquiring a minority stake in the business allows us to focus on what we do best, whilst still receiving the benefit of their invaluable experience at a board level for growing and guiding the business. We look forward to working with Dan Topping and the team at BP Marsh as we enter this exciting phase of development."

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