Concordis Group, a financial holding company, has completed an agreement to purchase the entire interest in Reber and Associates.
Concordis Group provides business insurance solutions through its two wholly own subsidiaries: Concordis Insurance SPC (CISPC) and Concordis Capital, while Reber specializes in insuring a broad-range of equipment on behalf of Lessors or Financial Institutions.
Concordis Group chairman and CEO Trent Sommerville said this acquisition complements their RENTAL MASTER product and offers another avenue to grow Concordis Group and increase shareholder value.
"This acquisition positions the company with those companies that rent, lease, and finance equipment. This will be especially significant when the economy turns-around. We will be there to offer a variety of insurance products," Summerville said.
The acquisition is expected to be closed by 20 December 2011.