PIB Group (PIB) has today announced the acquisition of D E Ford based in York.
Founded in 1976, D E Ford was one of the first Chartered Insurance Brokers in the UK to be granted chartered status by the Chartered Insurance Institute (CII). D E Ford is a leading independent insurance broking and risk management company with specialist expertise within the commercial, religious, charity and care sectors, on a local and national level. Managing Director Chris Greenall and the management team at D E Ford will continue to lead the business following the completion of the deal.
The acquisition by PIB will provide D E Ford with the further ability to develop and accelerate its expansion whilst focusing on customer servicing activities. The acquisition of D E Ford is the eighth investment by PIB since The Carlyle Group acquired a significant equity stake in PIB in December 2015.
Chris Greenall, Managing Director of D E Ford, said: “The investment from PIB will help build on the strong platform and excellent reputation that the business enjoys and all of our team are thoroughly looking forward to the opportunities that being part of PIB will create. With greater financial resources to support organic growth, we are excited about the future for the business.”
Ryan Brown, CFO of PIB, commented: “It is great news that we have been able to continue the momentum of 2016 and announce D E Ford as our first acquisition of 2017. We have been extremely impressed by Chris, his team and the business generally since we started discussions and look forward to working closely with them to continue building on their past successes. The expertise that D E Ford has in specialist markets such as charity and care in particular will further enhance the reputation we have through our previous acquisitions.