Specialty Lloyd’s broker Tysers and its owner Odyssey Partners have acquired Risk Transfer Group (RTG), the parent company of RFIB Group, the private equity-owned Lloyd’s operation.
The move will create an independent London-focused wholesaler with total revenues in the region of £200m ($260m) and around a thousand employees.
Integro, trading as Tysers, agreed the deal, bringing to an end Calera Capital’s nine-month quest to exit RFIB.
As part of the deal, RTG Chief Executive Officer Steven Beard will continue on in his role and report to Integro CEO Andy Behrends.
Calera bought a majority stake in RFIB Holdings Ltd in May 2015. The management and employees of RFIB led by Jonathan Turnbull, CEO, retained a significant equity stake in the business.