Fri, 25 Mar 2022 | BUSINESS NEWS
London-based chartered managing general agent (MGA) Landmark Underwriting has announced that it will target acquisitions after securing funding from SME growth capital lender BOOST&Co. As well as bolstering the firm’s underwriting and leadership teams through M&A deals, the funding, an unspecified amount raised via debt financing, will also be invested in new offices and lines of business.
Landmark Underwriting began operating through its MGA after acquiring Greenwich Underwriting in 2018. Since then, the business has expanded through several acquisitions of diverse providers, offering a wide range of services and products in the Financial Lines space.
Based in London’s Leadenhall Market, the company’s expansion has seen it establish offices in Lyon, Toronto and, most recently, Hamilton, Bermuda. Moving forward, the group will use its new funding to target strategic acquisitions that enable it to diversify and grow its domestic and international offerings.
Commenting on the announcement, Landmark Underwriting Managing Director David Ratledge revealed that company founders Ross Lazaroo-Hood, Sitki Gelmen and David Robinson had been outlining the business’ growth plans for the past two years.
Ratledge continued: “Landmark will use the funding from BOOST&Co to move forward with further growth – in particular investing in new lines of business, new offices in the U.K. and further bolstering the underwriting and leadership teams through targeted business and people acquisitions.”
BOOST&Co’s Head of London and the East, Adam Brinn, said that the funding came at a “transformational” time for the business and added: “Our funding will be used to make several strategic acquisitions that allow the group to diversify their offering domestically and establish themselves in key International markets”.
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