Private equity injects £28m into Right Choice
LDC has taken a minority shareholding in Right Choice and the money will be used to develop the broker’s technology and software platforms.
LDC, the private equity arm of Lloyds Banking Group, has paid £28m for a minority share of online broker Right Choice Insurance Brokers (RCIB).
RCIB now plans to invest in further developing its proprietary software and technology platform to accelerate growth.
Growth
Mike Joseph, chief executive of Right Choice Insurance Brokers, said: “We have grown organically from day one, and over the last 10 years have achieved significant scale as a result of our unique business model and technology
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