Nexus Group raises £16m in capital to fund acquisitions
Specialty managing general agent (MGA) Nexus Group has secured a £16 million funding that it plans to use in advancing its merger and acquisition (M&A) activity.
Insurance investment company BP Marsh & Partners, which holds 18.5 percent shareholding in Nexus, has provided with a £2 million revolving credit facility.
The further £14 million came through undisclosed sources, Nexus said.
The company is eyeing future M&A deals to diversify and strengthen its portfolio after its recent acquisitions of London-based warranty and indemnity MGA Capital Risks, and specialist trade credit broker Credit & Business Finance (CBF).
Colin Thompson, Nexus Founder and Group CEO, said: "This is an exciting time for Nexus and the completion of our second capital raising process means we will be able to continue on the dynamic growth strategy we are currently enjoying."
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