PIB Insurance Brokers has made its fifth acquisition in less than a year with the purchase of general insurance broker Carmichael & Partners.
Based in Abeerden, Carmichael specialises in the delivery of bespoke professional services to businesses in the port city and North of Scotland.
“We are delighted to have acquired Carmichael, a firm which has an excellent reputation in the Aberdeen market,” said PIB chief executive Brendan McManus.
“Carmichael will bolster our existing presence in Aberdeen working closely with our existing local PIB office led by Graeme Cant,” he added. “Working together, I am excited by the potential for both businesses to continue their success.”
Carmichael managing director Andrew Brodie said the transaction is expected to strengthen the Abeerdeen broker.
“We know their team in Aberdeen well and look forward to building a stronger presence in our market with them,” Brodie said.
“The different skills and experience we will have access to, locally and more broadly, can only be a good thing for our employees and clients alike,” added Brodie.
The latest deal is the fifth acquisition by PIB since the alternative asset manager The Carlyle Group took a significant equity stake in the brokerage firm in December 2015.
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