PE-Backed Co. Snaps Up London Insurer In Acquisition Spree
Law360, London (October 29, 2020, 3:34 PM GMT) -- Private equity-backed PIB Group has announced it has acquired real estate insurance specialist Arlington Insurance Services Ltd. in the 32nd acquisition deal of the company's five-year history.
PIB Group Ltd., an acquisition vehicle backed by the Washington-based Carlyle Group, said it will buy Arlington, a specialist property insurance broker made up of 12 experts in the real estate insurance sector. PIB, which specializes in buying regional insurance brokers, did not disclose the terms of the deal.
Brendan McManus, chief executive of PIB Group, said Arlington is an "an experienced team of property insurance broking professionals" that has "consistently grown" its business. "Their...
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