Lettings industry services and insurance provider Barbon has been bought by PIB Group. The announcement also coincides with a change in leadership for the newly acquired business.

PIB has acquired lettings industry services and insurance provider Barbon, which has a range of referencing and insurance brands including HomeLet, Let Alliance and Rentshield Direct.

The announcement coincides with a change in leadership for the newly purchased business, with Andy Halstead taking up the role as chief executive officer and its lettings brands with immediate effect.

Halstead said: “As always, our customers and our team members will remain at the heart of everything we do as we look forward to collaborating with our new colleagues at PIB to develop a unique, full-service insurance offering.”

The acquisition strengthens PIB’s existing proposition across the lettings sector, with Let Property already an area of significant expertise within the group. The sector is one that PIB believes is highly resilient and will offer significant growth opportunities in the coming years.

Through PIB, the Barbon business and its lettings brands will benefit from access to a broad suite of additional products and services for their customers. The two organisations will work closely to identify opportunities that align letting propositions in order to create a full-service insurance proposition.

Brendan McManus, CEO for PIB Group, said: “I’m absolutely delighted to welcome to PIB Group another highly specialist business with an outstanding reputation in its sector.

“Our investment in Barbon represents an excellent strategic fit thanks to its consistent growth and multiple synergies which will enhance our expertise in the lettings sector and complement PIB’s overall retail proposition. I look forward to collaborating with our new colleagues to strengthen what is already the UK’s leading insurance intermediary for the private rental sector.”