PIB’s Barbon adds Rent4sure to portfolio

Barbon Insurance, which is part of PIB Group, has bought lettings software and systems specialist, Rent4sure, for an undisclosed sum.

Rent4sure is an all-in-one lettings platform for UK agents providing specialist services and expert support alongside the latest referencing software, designed to help letting agents grow their business with security and confidence.

Formed in 2009, Rent4sure has grown organically via a combination of wider distribution, product diversification and investment in software solutions for interface with agents and suppliers. At the helm is CEO Tim O’Hara and COO Luke Burton who lead the 75-strong people team across Dover, Norwich and Reigate.

Technology
According to PIB the move brings together Rent4sure’s technological innovation with the referencing and insurance expertise of Let Alliance and HomeLet.

They will continue to trade under their respective brands, while developing the new generation of products and services for letting agents.

Andy Halstead, chief executive officer for Barbon Insurance Group, commented: “This is a brilliant opportunity, and all our customers are poised to benefit from the deal. Rent4sure has a great reputation in our marketplace, and Tim and Luke have built a professional business with an outstanding team of people supported by market leading technology.

“Everything we do is about our customers and delivering a service that our customers love. Rent4sure bring 2000 new customers to our Group, adding to our scale and firepower. We have the resources to deliver unrivalled value to our customers. I can’t wait to get cracking with our new colleagues and customers.”

Deals
This is PIB’s sixth investment of 2021 and the Group pointed out that its acquisition pipeline remains buoyant in the UK as well as overseas. Most recently it added Guernsey-based CBCJ to its portfolio.

Brendan McManus, CEO for PIB Group commented: “I’d like to extend a very warm welcome to all our new colleagues from Rent4sure who are joining PIB Group. Their excellent reputation in their market makes them a fantastic addition and great fit for our strong lettings proposition through HomeLet and Let Alliance.

“Together, all three of these leading brands to the lettings market present significant growth opportunities. At the same time, customers can continue to enjoy high levels of service and benefit access to a broader range of products and services, as well as specialist insurance solutions available across PIB Group.”

Funding
At the start of the year PIB Group received investment from private equity house, Apax Partners, in a move that McManus said would help the business to double in size.

Luke Burton, chief operating officer for Rent4sure, said the acquisition was an exciting new chapter for the company.

He commented: “I’m delighted that Rent4sure has been acquired by PIB Group and we look forward to working with our new colleagues at Let Alliance and HomeLet. This development allows us to build on 11 years of innovation as a lettings software and systems specialist. Working on a shared vision with our new colleagues means we can add more value to our portfolio, while retaining our unique brand.”

The move sees Rent4sure’s customers get access to enhanced rent protection and agent-led insurance provided by Barbon.

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