Last checked at 
LONDON (Alliance News) - Venture capital provider BP Marsh & Partners PLC said Friday it has sold its 49% stake in The Broucour Group Ltd to Broucour's founder and Managing Director Rupert Cattell.
BP Marsh said it sold its entire stake for up to GBP341,000, which equates to the company's most recent published valuation. BP Marsh added that its outstanding loan to the company, being GBP330,000, will be paid by Broucour in full.
Broucour has two subsidiaries Turner Butler Ltd and Owner Sellers Ltd, both of which act as agents for sellers of small and medium enterprises which are below the GBP3.0 million bracket. BP Marsh had originally invested in Owner Sellers in 2008 and has "supported the company for a number of years", including funding the purchase of Turner Butler Ltd in 2012, and overseeing the reorganisation of the business.
Jonathan Newman, the finance director of BP Marsh, will resign as a non-executive director on the board of Broucour, as well as its subsidiaries Turner Butler Ltd and Owner Sellers Ltd.
Shares in BP Marsh were up 2.3% at 155.00 pence on Friday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
