Private equity firm Preservation Capital Partners (PCP) has agreed to acquire a minority stake in UK-based insurer Berry Palmer & Lyle (BPL).
The value and precise size of this stake remain undisclosed.
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BPL specialises in credit and political risk insurance (CPRI).
In a statement, the company said the investment will support its presence as an independent, employee-owned company at the “forefront” of the CPRI space.
PCP managing partner Jatender Aujla will become part of the BPL board, while the existing leadership team will remain in place.
Aujla said: “We have been following BPL’s market-leading performance over a number of years and have been impressed by its outstanding growth and unparalleled reputation.
“BPL has consistently demonstrated market leadership and an unwavering commitment to delivering value to its clients. Our investment underscores PCP’s strategy of partnering with best-in-class businesses led by exceptional management teams, and we look forward to supporting BPL’s next phase of growth.”
The deal is due to be completed in the fourth quarter of 2025 (Q4 2025), contingent on regulatory approvals and other standard closing conditions.
With the support of the PCP network, and experience as specialist investors in financial services, BPL aims for continued growth, the company added.
BPL founder Charles Berry said: “BPL only became fully employee-owned around a decade after it was founded, when the PRI market was still embryonic. Now the CPRI market has matured, with a clear direction and growth trajectory, it is time to revert to our origins by partnering with external minority shareholders, while retaining majority employee-ownership and our specialisation.
“But PCP doesn’t just offer us financial firepower – it also lends us the skillsets of an exceptionally dynamic group of banking and strategic operational experts. I have no doubt that we have found the best fit for BPL – a continuation of the business we built, while enabling it to aim higher and unlock the type of opportunities that our team deserves.”
In June 2024, BPL partnered with Allianz Trade to introduce an application programming interface (API)-powered enquiry system.
This system, developed for use on the Whitespace digital trading platform, aims to enhance the efficiency of data sharing between underwriters and brokers.
