PIB adds to Spanish portfolio
PIB Group has bought Spanish broker Tractio.
The transaction, consisting of TractioRisk Correduría de Seguros and Tractio Risk Solutions, is pending Spanish regulatory approvals. The cost of the deal has not been disclosed.
Founded in 2011, and with a team of 28, Tractio specialises in maritime, land and air transport business as well as energy, SME and private equity.
Co-headquartered in Bilbao and Valencia Tractio has further offices in Barcelona, Madrid and Badajoz.
CEO of PIB Group, Brendan McManus, commented: “Tractio is a
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