Broker secures £20m debt facility as it targets more acquisitions

Broker Partners& has secured a £20m debt facility with Santander UK as it looks to boost its organic and acquisitive growth.

Since it was founded in April 2020, Partners& has operated exclusively with equity capital from its long-term partner Capital Z.

As the broker looks to make more investments in acquisitions and its team, it felt that having more funds from Santander UK would provide “additional firepower”.

Phil Barton, Partners& chief executive, said: “We’re thrilled that Santander has partnered with us. With a healthy pipeline of acquisitions, we embarked on a thorough tender process to find a like-minded, first-rate lending partner who shares our culture, vision, ambition and sustainability objectives.

“In electing to partner with Santander, we have joined forces with a lender who shares our commitment to partnership and a values-driven approach to business.

“These funds provide us with additional firepower to fulfil our blended growth strategy, whilst maintaining our conservative approach to debt/financial discipline.

“We have built a great business, we have a strong pipeline, we have the funds to do deals and we have a great partner in Santander.”

‘Stands out’

Partners& has made several acquisitions during 2024, including that of Bickley Chartered Loss Adjusters in August, as well as Monaco Insurance Services and Church Side Insurance Services in February.

“We’ve been tracking Partners& for some time and have been impressed with its story, its leadership team and its commitment to delivery,” Chris Thomas, director of financial sponsors at Santander UK, said.

“It stands out in the insurance sector as a high-quality asset. We’re delighted to be supporting them as they pursue their next phase of growth.”