Insurance intermediary company PIB Group has acquired UK-based independent chartered insurance broker Wilby.
Financial details related to the acquisition have not been disclosed.
It is PIB's fourteenth acquisition in 21 months, after its recent investment in Lorica Insurance Brokers and Citynet Insurance Brokers.
Wilby, which was established in 1984, specializes in commercial insurance and risk management solutions for businesses and private individuals.
The company has more than 30 years of broking experience. Key areas of specialty include commercial insurance for caravan dealers and parks and care (children’s and social care, hospices and shelters) sectors, along with motorcycle dealers and construction.
It is headquartered in Halifax with three offices across the North of England (Lymm, Cumbria and Brighouse). It has a workforce of 80 employees which serve clients across the country.
After the deal is completed, the existing management team of Wilby will continue to be led by CEO Richard Blackburn.
Blackburn said: “I’m incredibly excited that Wilby is joining PIB. The wider experience and resources of being part of the PIB group can only further enhance our proposition to both new and existing clients.
“This as a unique opportunity to continue our own growth agenda, while also contributing to the long-term ambitions of the wider Group. The PIB philosophy will enable us to continue to grow through investing in quality people and businesses.”
PIB Group Brendan McManus sees the investment as an opportunity to strengthen PIB’s strategy to build market leading positions in specialist businesses.
McManus said: “Wilby has built a strong reputation and brand in their chosen markets over the years, so I’m thrilled we have joined forces with Richard and his team. With our investment, Wilby will continue to grow and succeed while also enjoying the opportunities that come with being part of a larger Group.
“Collaboration is a key theme at PIB and there are obvious sector synergies with some of our existing business that we can all build upon together and strengthen our propositions further.”
Image: Wilby CEO Richard Blackburn. Photo: Courtesy of PIB Group Limited.