The deal takes the consolidator’s GWP up to £500m and will see Wilby aim to grow further through acquisition.
Wilby has been bought by PIB Group for an undisclosed sum – its 14th deal in less than two years.
Wilby, which is based in Halifax, will keep its existing management team, offices, and staff and continue to be led by CEO Richard Blackburn.
Blackburn commented: “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.”
In the Insurance Age Top 100 2017 Wilby, which specialises in caravan parks and dealers, care, motorcycle dealers, construction insurance and risk management, was placed in the £20m - £29.99m banding.
The deal follows PIB’s investment into Lorica Insurance Brokers and Citynet Insurance Brokers. The consolidator also recently set up a risk management arm.
Brendan McManus, CEO for PIB Group commended Wilby’s reputation and said the move would strengthen PIB’s involvement in specialisms.
Collaboration
He commented: “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.”
According to PIB, Wilby’s strategy has been to evolve organically and via acquisition. Its headquarters are in Halifax with three satellite offices across the North of England (Lymm, Cumbria and Brighouse), with approximately 80 employees serving clients across the UK.
The acquisition takes PIB’s total headcount close to 1,100 people located in 39 offices, and GWP up to approximately £500m.
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