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On 16 April 2024, LEBC Holdings Limited, an investee company of B.P. Marsh & Partners Plc, completed the sale of 100% of its subsidiary, Aspira Corporate Solutions Limited, to Titan Wealth Holdings Limited, following regulatory approval. Immediately after completion, B.P. Marsh & Partners Plc received full repayment of its £3.3 million loans to LEBC and expects to receive at least £15,947,000, in line with its 31 July 2023 valuation, from LEBC's proceeds which are payable over a three-year earn-out period.
| Date | 16 Apr 2024 |
| Time | 12:45:00 |
| Category | Miscellaneous |
| ID | 8371K |
16 April 2024
B.P. Marsh & Partners Plc
("B.P. Marsh", the "Company" or the "Group")
Investee Company Update - Completion of disposal by LEBC Holdings Limited of Aspira Corporate Solutions Limited
B.P. Marsh & Partners Plc (AIM:BPM), the specialist private equity investor in early stage financial services businesses, is pleased to announce that, further to the Company's announcement on 13 November 2023, LEBC Holdings Limited ("LEBC") has completed the sale of 100% of Aspira Corporate Solutions Limited, a wholly-owned subsidiary of LEBC, to Titan Wealth Holdings Limited, the discretionary fund management/wealth and asset management business. Completion follows receipt of regulatory approval.
The Group received full repayment of its £3.3m loans to LEBC immediately after completion. As previously stated, LEBC will receive proceeds of sale over a three year earn-out period. The Group expects to receive at least £15,947,000 in line with the Company's most recent published valuation of LEBC as at 31 July 2023.
For further information:
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B.P. Marsh & Partners Plc |
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Brian Marsh OBE |
+44 (0)20 7233 3112 |
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Nominated Adviser & Broker Panmure Gordon |
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Atholl Tweedie / Amrit Mahbubani / Ailsa MacMaster |
+44 (0)20 7886 2500 |
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Financial PR & Investor Relations |
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Tavistock |
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Simon Hudson / Tim Pearson / Katie Hopkins |
+44 (0)20 7920 3150 |
Notes to Editors:
B.P. Marsh's current portfolio contains fifteen companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk.
Since formation over 30 years ago, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for over ten years.
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