BGC Partners Buys RP Martin's UK Assets, To Buy Rest In 2015 - Quick Facts

(RTTNews) - BGC Partners, Inc. (BGCP), a brokerage company servicing the financial and real estate markets, Monday announced that it has acquired the UK assets and subsidiaries of RP Martin Group, an interdealer brokerage firm.

BGC expects to acquire further businesses and assets of RP Martin in Sweden and the Netherlands in 2015, subject to regulatory approvals and certain closing conditions.

Financial details of the transaction were not disclosed.

The company expects the purchase of RP Martin will expand BGC's footprint into the Netherlands and Sweden and strengthen BGC's European business.

The company noted that the assets and subsidiaries acquired, and those expected to acquire in 2015, generated unaudited revenues in excess of $50 million in the financial year ending September 30.

BGC expects the transaction to be immediately accretive and to boost its European rates and foreign exchange platforms.

RP Martin has approximately 170 brokers and offices in the UK, the Netherlands and Sweden.