Atec has acquired Moorhouse Group in a strategic push to expand its presence in the SME insurance market.
This marks the first acquisition for Atec since receiving backing from European private equity firm Perwyn last year, according to FF News.
The deal aligns with Atec’s ambitious plan to triple in size over the next five years and become one of the UK’s top 10 specialist insurance brokers through a mix of mergers and acquisitions and organic expansion. The value of the acquisition has not been disclosed.
Moorhouse Group has a 35-year heritage in commercial SME insurance. The company operates several arms, including Xbroker, a wholesale broking operation; constructaquote.com, a retail broking platform; and Toledo, a managing general agent (MGA). Based in Caerphilly, Wales, Moorhouse employs 80 staff, all of whom will transition to Atec as part of the acquisition. The Moorhouse brand will remain intact and there will be no disruption to its existing services or broker partnerships.
Atec designs, distributes, and underwrites a range of specialist insurance products, primarily focused on home and leisure markets, and now expanding into SME lines. The company supports over 350,000 policyholders across the UK in both wholesale and retail personal lines.
The acquisition is expected to broaden Atec’s product portfolio, leveraging Moorhouse’s expertise in SME insurance while enhancing scale through Atec’s technology and data capabilities. Atec has heavily invested in analytics and digital infrastructure and plans to apply its proven growth strategy, which saw it triple organic revenues since 2020 and grow policy volumes from 125,000 to 350,000, to the Moorhouse business.
This acquisition is also seen as a foundational step in Atec’s diversification into SME insurance. It supports Atec’s larger strategy of replicating success across its MGA, retail and wholesale channels to deliver increased volume and innovation.
Brendan Devine, Atec Group CEO, comments: “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.”
Perwyn investment director Edward Lunken said, “We are very pleased with Atec’s first bolt-on acquisition. When we invested in Atec in June last year, we undertook to support Brendan and his team both to continue the strong organic growth and also to begin a new chapter of M&A for Atec. The acquisition of Moorhouse represents the ideal entry-point into the new and complementary end-market of SME insurance and we hope that it will be the first acquisition of many.”
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