PIB Group acquires Balens and moves into health, wellbeing, fitness, and beauty sectors


PIB Group Limited is adding to its portfolio of businesses and specialisms by entering the health, wellbeing, fitness and beauty sectors through the acquisition of Balens.

Headquartered in Worcestershire, the investment will include Balens Ltd and the wholly owned subsidiaries Balens Europe B.V. (based in the Netherlands and regulated by AFM and therefore pending regulatory approval), as well as Balens Insurance Finance Services Limited (together ‘Balens’). The highly regarded fourth generation family run establishment boasts a 72-year trading history and is one of the largest brokers of their kind in the UK.

Brendan McManus, CEO for PIB Group commented: “This is a very special business, and I am absolutely delighted that PIB Group will become their new home. Over several decades, David and the team have built an excellent business and earned a loyal customer base. Their deep expertise in their specialist areas is an obvious draw for PIB. However, we have been equally impressed by their genuine concern for customers, ethics and integrity that is firmly engrained in their culture. They’re a great fit for PIB. We look forward to working with everyone at Balens to build on their heritage for further success.

David Balen, Chairman for Balens commented: “I am delighted that we will be joining the PIB Group! This is an important step for Balens to help take us up to the next level. It will also help develop and improve our structures and service, giving us a greater resilience and bargaining power on behalf of our clients. Our family has been on an amazing journey since 1950, and much of our success is testament to our brilliant teams over the years and our loyal clients. I have always believed that insurance is about trust, quality relationships and good communication as the essential roots to our everg-rowing tree as depicted in our logo and brand. I believe our values are very much aligned to those of PIB, which will be a great new home, from which to continue to grow and expand our business ethically and organically into the future.”



Source link

Leave a Comment