PIB Group Limited (‘PIB’) has successfully completed the acquisition of Cooper Solutions Ltd who provide a portfolio of online solutions for the retail automotive industry, including a market leading daily rate insurance product provided through PIB-owned Cooke & Mason. The news follows PIB’s recent acquisitions of CMR Solutions Ltd and Sue Smith Ltd.
At the heart of the Cooper Solutions portfolio of client propositions is a web based fleet management system which tracks all vehicle movements within a dealership and incorporates the provision of daily rate insurance for customer courtesy, demonstration and rental car loans. This daily rate insurance product has been provided since 2004 by Cooke & Mason, who are experts in the provision of insurance solutions to the motor trade and haulage sectors. The daily rate insurance product insures around 12,000 retailer cars per day and is the market leader in providing cover for unaccompanied customer driven demonstrations and courtesy cars.
Cooper Solutions was formed in 2001 and their portfolio also includes performance forecasting and financial management, used car stock management, electronic appraisal, and online trade vehicle auction. There are 34 employees based in Barford and owners Barry Cooper and Peter Cooper will remain in the business following completion of the deal, with Dean Pipitone assuming the role of Managing Director.
Barry Cooper commented: “We’re delighted that PIB is investing in us, and we are looking forward to providing our clients with access to a broader range of products and services through PIB. We place high value on the relationships we have with our customers, many of whom have been with us since our inception.”
Brendan McManus, CEO for PIB Group commented: “I’m very pleased to welcome the team at Cooper Solutions who have worked closely with our experts at Cooke and Mason for almost 15 years. Their proven expertise in providing digital solutions to the automotive industry will open up new conversations and opportunities for our clients at Cooke & Mason. Likewise, we look forward to providing Cooper Solutions clients with further specialist advice and support from across the Group.”
PIB has now made 24 acquisitions in total since 2016, five of which have been this year including Optis Insurance Ltd in Ireland, the COBRA Group of companies, CMR Solutions Ltd, Sue Smith Ltd and Cooper Solutions Ltd. Total headcount for the Group now stands at c1400 employees.
Brendan McManus continued: “PIB is only four years old and we have been growing every year since we formed. We have acquired some fantastic businesses and 2019 has been another successful year thanks to the hard work and dedication of all our people. Looking ahead it’s going to be another exciting ride as we start our international adventure.”
# # #
About PIB Group
PIB Group is a dynamic insurance intermediary group aiming to create a leading position in the provision of specialist insurance solutions across the UK market and beyond. Launched in 2015, PIB has grown rapidly through acquisitions and by employing outstanding individuals with a wealth of knowledge and experience in the insurance market. The PIB Group offers a range of specialist teams, products and services to clients throughout the UK, Channel Islands and Ireland. For more information visit www.pibgroup.co.uk.
Tel: 0203 961 7644