Earlier this week, Welsh specialist broker Moorhouse Group Ltd (also trading under its technology brand Consructaquote.com) exited to a private equity backed super broker Right Choice Holdings Ltd in a deal worth tens of millions.
The Group, established in 1990 by founder Lyndon Wood, will become a sister company to Bennetts Motorcycling Services Limited (Bennetts) 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 Lyndon, remaining very much part of the business, transitioning to a strategic consulting role.
Following on from the announcement at the start of the week, Lyndon chatted to Business News Wales about his decision
But why has Lyndon exited now? He said:
“So I’ve grown the business organically over 31 years. Lots of up’s and down’s and the last 18 months has been a challenge, but we did manage to significantly grow the business. But you hit a crossroads! The crossroads is you either raise capital to move forward or you exit to a larger player that can add significant interest to the business and the people in it.”
But what’s next for Lyndon? He said:
“I invest a lot so I do the old cryptocurrency, the stock market. I invest in gold and silver and some precious metals, so I just do more of that. I’m also going to finish writing the two books that I’d started writing.”
But most importantly, Lyndon has declared that it is now time to take some time for himself.
“I’m just going to chill! I’m going to relax the brain and unwind the brain and rediscover myself to be honest.”
We think that after 31 years of hard work, Lyndon Wood deserves some well-earnt time off! Whatever he does in the future, we’ll be sure to watch.