Property management and insurance group Hercules Property Services has bought housing association property broker DOR (Northern) for approximately £4m.
The purchase, part of Hercules' bid to dominate niche markets, brings the combined value of its acquisitions over the past 18 months to £40m.
Macclesfield-based DOR, which is owned by David and Olga Owen, had a turnover of £1.1m in its last financial year. Owen will remain on the board of DOR.
Hercules now owns 45% of the housing association insurance market, through its housing association subsidiary FARR.
Hercules managing director Rob Plumb said: "Hercules acquired FARR in 2000 with the aim of expanding into another area of the property insurance market.
"The acquisition of DOR will serve to strengthen Hercules' strategy and position in the UK housing association insurance market."
