BDO acted as lead advisers to the shareholders of Mar Risk Services Limited (“MarRS”) on the sale of the company to Costero Holdings (“Costero”).
Founded by Clive Freeman, MarRS is a Lloyds accredited insurance broker who handle the placement of specialist risks across the marine, energy and credit & political markets. The company provides a niche and bespoke service including risk placement, management and claims handling to a diverse international client base across Europe, the Far East and the US. The sale to Costero, a privately held London based brokerage, continues the expansion of the business in the UK and widens its product expertise in both the insurance and reinsurance markets.
The successful sale of MarRS adds to BDO's extensive M&A credentials and experience across the insurance sector.
"BDO worked with the shareholders over a long period of time to review and evaluate options available to the business. During this time they effectively became a valued element of our management team, gaining an in-depth understanding of our business and advising on strategic decisions. We were provided with good clear communication throughout and they worked efficiently and quickly and showed their transactional experience in handling all discussions between the shareholders and our American investors. As a result we achieved an excellent result. We would have no hesitation in recommending BDO."
Clive Freeman - CEO, Mar Risk Services Limited