York insurance broker gains ‘financial firepower’ through PIB acquisition

D E Ford, the York-based chartered independent insurance broker, has been acquired by PIB Insurance Brokers for an undisclosed sum.

Managing director Chris Greenall and the management team at D E Ford will continue to lead the business following the completion of the deal.

The corporate finance team at KPMG in Leeds acted as financial adviser to the shareholders of D E Ford on the sale to PIB, which is backed by alternative asset manager, The Carlyle Group.

Established in 1976, D E Ford is an independent broker with specialist expertise within the commercial, religious, charity and care sectors, on a local and national level.

The acquisition by PIB will provide D E Ford with access to significant financial resources, supporting further organic and acquisitive growth.

Chris Greenall, managing director of D E Ford, said: “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.”

Shareholders of D E Ford were advised by KPMG’s Stewart Cape and Nasim Sharf of Rollits LLP corporate team.

Christian Mayo, head of corporate finance at KPMG in Yorkshire, added: “There is an appetite from the investment community for high quality, specialist insurance brokers in the UK regions.

“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.”