Club Direct Insurance Services which has been sold by its administrators to the Collinson Group.
The company, which sells travel insurance was placed into administration on 30 October after its debts totalled £2m The deal means there will be no staff redundancies.
Peter Whalley of Buchanans said: "This purchase has secured employment for the thirty-five staff at Club Direct and its two subsidiaries - an outcome which would not have resulted from a sale to some of the other bidders.
"It also means that we should be able to pay a reasonable dividend to creditors who have lost out."
Colin Evans, the chairman of the Collinson Group, observed "This was a great opportunity to add to our market share and it allows us to leverage our core strengths. The market is fiercely competitive and few independent companies have been able to achieve critical mass."
