Extended warranty insurance company The Regency Group has been bought by South Staffordshire Group Plc.
The Somerset-based Regency Group specialises in providing warranties and insurance products to the retail industry and has more than 5.5m policyholders.
Eight companies under the Regency banner have been sold, including Regency Financial Holdings plc, and will form part of South Staffordshire Group's Home Service division.
This division offers emergency plumbing and electrical assistance cover to 28 utilities nationwide.
Regency Group managing director said the sale would not impact much on the day-to-day running of the business or the lives of the staff, adding: "The management team and directors will remain the same. All jobs are safe and there will be no re-structuring of the organisation.
"In fact, South Staffordshire Group has stated that it wants us to continue with the development of the business and to carry on increasing the workforce."
It is thought that up to 200 new staff may be employed in future.
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