RPC advises BP Marsh on sale of Kentro

International law firm RPC has advised BP Marsh & Partners Plc on the sale of Kentro Capital Limited to Brown & Brown, Inc.

The sale was announced on Tuesday by BP Marsh, which will receive a £51.5m cash consideration, net of all transaction costs, from the sale of its 18.7% shareholding in Kentro Capital.

BP Marsh is a specialist private equity investor in early-stage financial services businesses, which invested in Kentro in 2014. The transaction, which is conditional on FCA approval, is an example of BP Marsh's successful strategy of investing for the long term in start-up and early-stage businesses with ambitious management teams.

Commenting on the deal, insurance transactions lead James Mee said: "It was an absolute pleasure to work with the BP Marsh team on this sale, which represents a real success story."

Dan Topping, Chief Investment Officer at BP Marsh, said: "We were pleased to work again with James and the RPC insurance transactions team.  This is the second significant disposal on which we have worked together."