York-based chartered independent insurance brokerage D E Ford believes the future is bright after it was subject to a takeover by PIB Insurance Brokers.
The deal, which was completed for an undisclosed sum, will see the management team at D E Ford continue as before at the specialist firm which focuses on the commercial, charity, care and religious sectors both on a local and national level.
According to managing director Chris Greenall, the deal will provide the firm with significant financial resources which should aid its growth both organically and through acquisitions.
“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 challenge,” he was quoted as saying by
Bdaily.
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Shareholders at the company were advised by KPMG whose head of corporate finance Christian Mayo believes the deal will be mutually beneficial.
“There is an appetite from the investment community for high quality, specialist insurance brokers in the UK regions,” he was quoted as saying by
Bdaily.
“For D E Ford, the deal with PIB provides the financial firepower to help the management team to accelerate the growth that it has delivered in recent years.”
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