MBP takes minority stake in rural broker Caleb Roberts

Minority Broker Partnerships (MBP), the investment business chaired by Peter Cullum, has bought a minority stake in Caleb Roberts Insurance Services, an independent agricultural and rural broker. The investment will support plans to grow beyond £32 million in gross written premium over three years through organic growth and acquisitions.

The existing management team, led by Hugh Campbell, Charles Campbell and Andrew Brock, keeps control of the business. Caleb Roberts has more than 80 years of history, 75 employees and six offices. Managing director Hugh Campbell said the partnership gives the broker capital and acquisition expertise.

MBP chief executive James McCaffrey said the firm's role is to provide capital, experience and strategic support without the business losing its local identity. The deal is MBP's seventh investment in 12 months.