Partner Article

Further North East expansion for Callum Capital

A CAPITAL venture firm has completed the acquisition of two further businesses in the North east of England.

It has bought BIB Darlington and specialist underwriting agency BIB Underwriters.

The underwriting agency, which specialises in agricultural insurance, controls £20m GWP, while its sister broking business BIB Darlington controls £10m GWP.

CCV Chief Executive, Michael Rea, said: “BIB Darlington is recognised as one of the premier commercial brokers in the North East, while BIB Underwriters is a significant player in the UK’s farming sector.

“Both businesses are coming to CCV with an excellent reputation for service, an experienced management team and a professional and dedicated workforce.

In total, the two businesses employ almost 100 staff and will continue to trade under their existing brands from their premises in Darlington.

Martin Littleton, managing director of the BIB Group, added: “This move represents a great opportunity to take our businesses forward in our chosen sectors. We have a strong position in the farming sector and an established, loyal client base in our retail business.

“I am delighted that CCV has enabled us to secure the future of the business while enabling fellow director Peter Atkinson and myself to pursue our individual ambitions for the future. I am also pleased that we were able to do the deal with Peter Cullum, whom I have known, and done business with, for many years.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .