Right Choice Holdings is set to acquire Bennetts Motorcycling Services Limited from The Ardonagh Group, having been advised by law firm RPC.
The business will be an “important part” of Right Choice Holdings’ new Insurance Services Group, and act as a sister company to Right Choice Insurance Brokers, a successful motor insurance broker specialising in non-standard risks.
Bennetts is a high profile business, well known in the segment, and is the title sponsor of Bennetts British Superbikes. It currently services 200,000 motorcyclists across the UK.
RPC Partners Matthew Griffith and James Mee led the RPC team on behalf of Right Choice Holdings. Herbert Smith Freehills, led by Partner Barnaby Hinnigan, advised Bennetts Motorcycling Services Limited.
Speaking of the deal, Griffith said: “We are delighted to have supported Right Choice Holdings on this important acquisition, utilising our experience in the insurance M&A market.”
Mee added: “We have hugely enjoyed working with the Right Choice team throughout, and wish them and the Bennetts team all the best in developing the Bennetts business and integrating it into the Right Choice group.
“Working with entrepreneurial businesses as they grow is a core part of our insurance market transactions business, and it was a real pleasure to work with the experts at Right Choice and other advisers.”
Mark Mugge, group CFO at Right Choice Holdings, said: “This is an exciting acquisition for Right Choice. The Bennetts brand is well established and the deal forms part of our strategy of offering best in class specialisms to our customers and to enable our people to flourish. It was great to work with the RPC team and leverage their expertise in doing deals in the insurance M&A market.”