Integro Insurance Brokers Ltd. has agreed to merge its U.K. wholesale and retail operations with Tyser & Co. Ltd.

Integro will acquire 100% of Hawkes Bay Holdings Ltd., the privately owned principal parent company of Tysers. The transaction is subject to regulatory approvals.

The management team will be a combination of the existing Integro and Tysers management teams. Christopher Spratt, chairman of Tysers, and Peter Haynes, nonexecutive director, will join Integro's U.K. board.

Financial considerations of the transaction were not disclosed.

Integro is owned by private equity firm Odyssey Investment Partners LLC.