The share capital of Barpax Associates has been snapped up by Country & Commercial Insurance Brokers Ltd (CCIB).
Without disclosing financial terms of the transaction, managing director Debbie Airey (pictured) said it will “build our footprint beyond CCIB’s Lancashire heartland and give us a solid base for growth in The Three Counties.”
The CCIB boss, who together with director Anne Haworth sold a majority stake in CCIB to Global Risk Partners (GRP) in January 2018, added: “Geoff [Barber] and Maria [Paxton] have built Barpax from scratch, and I’m delighted to welcome them and their team to CCIB and GRP.
“CCIB will be able to bring the added firepower from being part of the GRP family to build out the operation faster and further.”
Meanwhile Barber and Paxton will remain as directors of the Worcester-based agricultural broker, which they founded in 2003.
Commenting on the swoop, GRP group managing director Mike Bruce stated: “Barpax is a great local business with a strong heritage and very high client retention within its footprint.
“I am confident that this acquisition will deliver additional product and service benefits to their clients and that, under Debbie’s leadership, Barpax will accelerate rapidly within CCIB.”