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Greene & Greene Helps Insurer Secure Multi-Million Loan Facility...

Fresh from its role in advising Nexus Underwriting Management Limited on its recent acquisition of Vectura Underwriting, Greene & Greene provided further assistance in helping Nexus to secure loan facilities totalling £44m, which it will use to undertake additional M & A activity.

Simon Ratcliffe, a mergers and acquisitions specialist in the Corporate team at Greene & Greene has worked very closely with Nexus on a number of business transactions since 2008.

Initial funding of £30m has been jointly provided by B.P. Marsh & Partners plc, a niche venture capital provider to early stage financial services business, and a New York headquartered global investment firm with offices in 10 locations around the world. An additional £14m of borrowing has been committed by the funders.

Nexus has a number of M&A opportunities underway and will drawdown on the initial £30m loan facility as and when required over the coming months.

Nexus’ Executive Chairman, Colin Thompson, stated: “This debt raising provides Nexus with the ability to satisfy our short-term plans of creating a virtual insurance company through a buy and build strategy focusing on profitable, niche MGA’s.”

Simon Ratcliffe of Greene & Greene added:

“We are delighted to have helped Nexus with securing this additional funding, which will further support its growth strategy and its position as the leading Specialist Underwriting Agency.”

For more information on the services offered by Greene & Greene Solicitors please visit www.greene-greene.com and follow on Twitter @GreeneGreeneLaw.

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