Element Hinton Insurance Brokers Ltd is acquired by PIB Group
March 5, 2021
Element Hinton (Insurance Brokers) Ltd, a family business based in Staffordshire, is entering an exciting new chapter following its acquisition by PIB Group Ltd (‘PIB’). The injection of investment, combined with the leverage and strength of PIB, will enable the business to build on a 33-year successful trading history and benefit all of its client base.
Based in the historic market town of Hednesford and within10 minutes of some of the UK’s major motorway networks, Element Hinton are strategically placed to service a wide range of businesses and private clients in the Midlands and the UK. The business specialises in the construction, waste, engineering and leisure (holiday parks) sectors. It has earned a strong reputation for providing a quality service based on honest and frank professional advice, with a strong focus on providing clients with the support they need when arranging their insurances and dealing with claims.
Strong focus on benefit for clients
The family business is led by father Richard Hinton and eldest son Matthew who are both assisted by younger son Sam, with support from the wider team who have a broad range of experience, all of whom will remain following completion of the deal. Their specialist experience will further strengthen the existing expertise within PIB while also helping to grow the Group’s national footprint through an established and reputable family run broker.
Richard and Matthew Hinton commented: “We are delighted that Element Hinton has found a new home through PIB Group. We look forward to working with and being part of one of the UK’s largest independent broking groups which will enable, enhance and improve the professional services we provide to our clients.”
The business currently services around 2,500 customers across the UK, many of whom have appointed Element Hinton thanks to strong recommendations and referrals.
“Our fantastic team and loyal customers have played an important part in the success of Element Hinton, and we now have an exciting future together as part of PIB, who will support the business to achieve further growth. Being able to collaborate with new colleagues around PIB will also mean that our clients can benefit from the extra leverage and product base that being part of PIB will provide.”
Professional development
At the heart of the Element Hinton is a strong focus on professional development. Many of its people have either obtained or are working towards Chartered Insurance Institute qualifications. Leading by example, Richard is Chartered and holds Fellowship status FCII, Matthew is Chartered and holds Associate status ACII, and Sam holds BA (Hons) and Diploma status DipCII.
“We believe in upholding professional standards, which is key to our team’s ability to provide clients with quality advice and to explain often complex subjects in a way that clients can understand and relate to their insurance requirements. As part of PIB, our people can also benefit from further investment, and access to more opportunities for self-development.”
Second acquisition of 2021 for PIB Group
PIB Group has made a strong start to 2021, having made its first acquisition of the year through UK & Ireland Insurance Services. The Group also secured new investment from Apax Partners (the ‘Apax Funds’), a leading global private equity advisory firm and PIB’s existing investors since 2015, The Carlyle Group (‘Carlyle’) reinvested for a minority stake.
Brendan McManus, CEO for PIB Group, commented: “I’d like to give a very warm welcome to Richard, Matthew and everyone at Element Hinton to PIB Group. They have developed and sustained a strong reputation they have built over the years, proven by their excellent relationships and high client retention. They are another excellent addition to PIB. We look forward to backing the further success of the business and being able to provide our new colleagues with access to additional specialist products and services for their clients to enjoy.”