PIB Group, a UK-based insurance advisory company, has purchased corporate chartered Insurance brokerage Rigton Insurance Services for an undisclosed sum.

Founded in 1974, Rigton specialises in offering insurance products to the transport industry including bus and coach insurance.

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It also holds Corporate Chartered Insurance Broker status and offers services in model retailers and manufacturers sector.

Rigton’s current team will continue to run the business while its previous management Roland Wilcox and Margaret Wilcox will support on a consultancy basis.

Roland Wilcox said: “We are delighted to become part of the PIB Group organisation. Their management has demonstrated their passion to move forward by acquisition and growth within niche areas of business and we feel Rigton will develop very well within their well thought out and planned strategy for the future.

“We are very impressed with the professionalism and friendliness of the PIB team and look forward to working with them in the future.”

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The transaction follows PIB’s recent acquisitions of UKinsuranceNET and Marx Re-Insurance Brokers.

PIB Group CEO Brendan McManus said: “I’d like to extend a very warm welcome to everyone at Rigton Insurance Services. This is another exciting acquisition which further broadens our niche offering across PIB Group.

“Roland and Margaret have built a strong business with year on year growth, which is testament to the teams’ experience and expertise in the market and of their specific products, as well as excellent customer care.

“Through PIB’s investment and support, I look forward to enabling further growth and new opportunities for everyone at Rigton.”