Multi-channel distribution platform specialist Atec Group has acquired Moorhouse Group, which focuses on the SME commercial insurance market. The deal is subject to regulatory approval. The deal is the first since Atec secured private equity backing from Perwyn last year. Atec has said it aims to triple in size in the next five years.
Based in Caerphilly, Moorhouse will retain its brand and its 80 employees will all transfer across under the new ownership.
Brendan Devine, CEO of Atec Group, said: “We’re delighted to make this announcement and hugely excited to welcome Moorhouse to the Atec Group. Moorhouse is an established, respected business with a long heritage, a clean book of business and strong capacity partnerships already in place.
“Its range of SME products are comprehensive, flexible and dedicated to the sector. It is the perfect stepping stone for Atec into the SME space to help diversify and grow our portfolio into complementary lines.”
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