Right Choice buys Moorhouse

Right Choice Holdings has completes the acquisition of Moorhouse Group, Insurance Age can reveal.

Based in Caerphilly, Moorhouse Group distribute products to commercial customers digitally under the Constructaquote brand as well as wholesaling through regulated insurance brokers and in person through a team of advisers.

According to a joint statement operations in Caerphilly will be expanded in the coming months and the acquisition will present no disruption or changes to service for the businesses currently serviced by Moorhouse Group across the United Kingdom.

Portfolio
The deal follows Right Choice’s recent buys of Bennetts and, Moorhouse Group, established in 1990 by founder Lyndon Wood, will become a sister company to Bennetts Motorcycling Services and Right Choice Insurance Brokers (RCIB) under the Right Choice Holdings umbrella.

On completion of the transaction, Linda Haggett will be promoted to become managing director with Wood, who will remain part of the business, transitioning to a strategic consulting role.

Wood, founder and CEO of Moorhouse Group, said: “We are 31 years old and have been at the forefront of technology in insurance for over two decades, with several global firsts. 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.”

Expertise
RCIB is a motor specialist and now has more than 225,000 customers. It also recently completed the purchase of the Autosaint, Ladybird and First Van brands, augmenting their proposition with a broader footprint and more knowhow in telematics, young driver and commercial vehicle.

Earlier this year, Mike Joseph, CEO of Right Choice holdings told Insurance Age that the business would target further deals focusing on brokers with sector specialisms who offer differentiated products with capabilities and teams that complement one another.

Following the Moorhouse transaction, Right Choice Holdings will now have offices in Coventry, Peterborough, Romford, Redditch and Caerphilly.

Opportunity
Joseph said: “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 contractaquote.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.”

Ian Owen, chairman of Right Choice Holdings, added: ““At Right Choice Holdings, our philosophy is to be the best home for niche insurance businesses where we can leverage expertise across our group to supercharge their growth.

“Adding the considerable expertise of the Moorhouse Team in the commercial sector breaks exciting new ground for us and we are thrilled to have the opportunity to work together to further develop the proposition in this specialism.”
 

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