Wales-based broker wants £5m GWP deal
Welsh broker Moorhouse is on the lookout for a broker acquisition up to £5m gross written premium in a move to complement its organic growth
The broker said the acquisition, using funds from the Moorhouse Group’s balance sheet, would fit with core areas for Moorhouse such as SME, or be a broker with a call centre or internet based business model.
Moorhouse said other acquisitions are likely to follow. In addition Moorhouse will consider books of business from companies wishing to dispose of SME business if it is not a core area for them.
Chairman Lyndon Wood said: “Now is the perfect time to make an acquisition with the new higher rate Capital Gains Tax increase and given the ageing broker demographic. There are a lot of brokers who missed out when the acquisition bubble burst in 2008 – 09 so hopefully there are some prime targets out there who are resisting the sausage machine approach of the consolidators.
“We are excited about it as we’re always looking for ways to push the business forward but we will only acquire if the model is right and will not just purchase for the sake of it, this is a strategic move.”
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