PIB Group has acquired Wheatley Wright Insurance Services (WW Group) and its underwriting unit Online Risk Solutions for an undisclosed amount.
The acquisition comes just two days after PIB Group purchased Albany Childcare.
Based in Leicestershire, Wheatley Wright was founded in February 2003 as a liability and associated risks insurance broker.
The company offers exclusive insurance products for specific industries within construction, engineering and manufacturing sectors.
Presently, the company has more than 5000 active policies.
Wheatley Wright managing director Nick Wright said: “We are confident that the construction industry will continue to grow due to housing demands and the government’s spending on affordable housing and infrastructure which brings plenty of opportunity for both our business and PIB Group.
“We’re looking forward to working with our new extended team while continuing to deliver as a client focused and cost-efficient construction broker that provides consistent and class leading specialist insurance services.”
After the acquisition, Wright and his team will lead the business.
PIB CEO Brendan McManus said: “Wheatley Wright is a fantastic business that has shown robust and consistent growth as well as solid client retention over the years, which is testament to the hard work of its team. I’m thrilled that Wheatley Wright has joined the Group and as with all our acquisitions, we are committed to supporting and investing in their long-term growth.”
Last month, PIB Group had acquired i2 Healthcare, an independent specialist corporate healthcare intermediary based in Birmingham.
i2 Healthcare’s principal areas of expertise include private medical insurance, group life insurance and income protection cover.
Since begin established in 2008, i2 Healthcare has been advising corporate clients on their health insurance and employee wellness requirements.
The company claims to be placing around £30m annually in more than 80 public and private clients across various sectors including law, finance, construction, manufacturing and the automotive industry.