CBG Group plc, a Manchester-based insurance broker, financial adviser and healthcare specialist, has bought G F Baskeyfield & Company, an insurance broker and financial adviser.

The deal broadens CBG’s geographical and service offering and is part of its acquisition strategy following its recent £3 million placing on AIM.

The group will pay up to £1.15 million in cash and shares for the company, subject to performance.

CBG’s chairman, Laurie Turnbull, said this deal demonstrates the group’s commitment to consolidating its business in the northwest.

Baskeyfield becomes part of the CBG’s business but continues to trade from its Macclesfield office. The acquired company’s principal, Graham Baskeyfield, joins the board of CBG Financial Services.