Atec Group has announced the acquisition of SME commercial insurance broker Moorhouse Group, in a deal that remains subject to regulatory approval.
The transaction marks Atec’s first acquisition following its receipt of private equity backing from European investment firm Perwyn last year.
At the time, Atec said that its ambition was to triple in size within five years through a combination of mergers and acquisitions and organic growth, aiming to become one of the UK’s top 10 specialist insurance brokers.
Moorhouse, which has operated for 35 years, includes Xbroker, a wholesale broking business; retail operation constructaquote.com; and managing general agent Toledo. The company, headquartered in Caerphilly, Wales, employs 80 people, all of whom will transfer to Atec. The Moorhouse brand will remain in use, with no expected disruption to existing customer or broker partner services.
Atec, which designs, distributes, and underwrites specialist insurance products for the home, leisure, and SME markets, currently serves more than 350,000 policyholders across both retail and wholesale channels.
Atec Group chief executive Brendan Devine (pictured above) said the addition of Moorhouse provides a clear route into the SME market and allows the company to broaden its portfolio into related product lines.
“Moorhouse is an established, respected business with a long heritage, a clean book of business and strong capacity partnerships already in place,” Devine said. “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.”
Since 2020, Atec has expanded its gross written premium from below £25 million to over £75 million, reflecting increased distribution reach and product line expansion. This growth in GWP aligns with its stated ambition of scaling its underwriting footprint across specialist lines.
To further enable its M&A ambitions, Atec appointed Max Bullen-Smith in April as head of M&A. Bullen-Smith joined from Ardonagh Specialty, bringing direct experience in deal structuring and integration in the UK broking space. His role involves identifying acquisition targets that align with Atec’s strategic focus on specialisation and data-led growth.
In parallel, the company also made changes to its technology leadership, appointing Steve Woodford as chief technology officer in late 2024. Woodford succeeded Andy Brown and brings experience in digital transformation and insurtech innovation. His remit includes enhancing Atec’s platform infrastructure to support integration of acquisitions and accelerate policyholder growth through scalable systems.
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