PIB Group, an acquisition vehicle backed by US private equity firm Carlyle, has purchased CMR Insurance Services and Sue Smith Ltd.
CMR provides clients with insurance protection against bad debts for UK and export sales through managed credit insurance policies, as well as claims and debt collection services.
The team of twelve is led by Christian and Kim Hoy, who remain with the business following completion of the sale.
“Our team strives to provide the highest standard of service to our clients and we have achieved strong growth performance in recent years,” said Christian Hoy.
“We are excited to join PIB in the next stage of our evolution and contribute to the Group’s long-term ambitions.”
Sue Smith Ltd is a small health and safety consultancy. The business will be fully integrated into PIB’s risk management division to ensure continuity of service for clients.
“I’m delighted to welcome on board all our newest colleagues to PIB Group who are joining at an exciting time in our journey,” commented Brendan McManus, Chief Executive Officer for PIB Group.
“We look forward to supporting their growth with client service at the core.”
