SME-focussed broking house Moorhouse Group has been acquired by Right Choice Holdings for an undisclosed sum.
Founded by chief executive Lyndon Wood (pictured) in 1990, the Caerphilly-based business is joining the Right Choice Holdings family and will become a sister company of Bennetts Motorcycling Services Limited and Right Choice Insurance Brokers (RCIB).
Moorhouse Group chief operating officer Linda Haggett will be promoted to managing director of the snapped up firm, while Wood transitions to a strategic consulting post. Additionally, operations in Caerphilly will eventually be expanded as assurances are offered that service across the UK will not be changed or disrupted.
“We are 31 years old and have been at the forefront of technology in insurance for over two decades, with several global firsts,” said Wood, whose business is the name behind the constructaquote.com brand. “Selecting Right Choice Holdings as the acquirer was an easy decision.
“We wanted to exit to a company with strong customer and employee values, who had a clear sense of direction, supported with an experienced top team. I wanted to leave a legacy and do right by our customers, our local community, Wales, our employees, and business. I am looking forward to the continuation of our journey and working with the expanded team – exciting times.”
Meanwhile the deal means that Right Choice Holdings will now be present in Coventry, Peterborough, Romford, Redditch, and Caerphilly.
Commenting on the acquisition, Right Choice Holdings CEO Mike Joseph stated: “I am really excited to be welcoming Lyndon, Linda, and the team to our business. The Moorhouse Group is well known and respected in the commercial insurance marketplace and the constructaquote.com brand gives us huge opportunities to grow and develop online distribution for SME customers.
“It has been great to get to know the Moorhouse management through this process, and we thank the team for their help in facilitating a smooth transaction as we do the advisers at Hines Associates and our legal team at Stephenson Harwood.”
Meanwhile Right Choice Holdings chair Ian Owen believes that adding Moorhouse Group’s commercial sector expertise “breaks exciting new ground” for the wider business.
