The Bachelorette

The Bachelorette's Chris Lambton Is Engaged

06/20/2011 at 04:30 PM EDT

Chris Lambton and Peyton Wright Are Engaged
Peyton Wright and Chris Lambton
ABC (2)
Chris Lambton is a runner-up no more.

The former Bachelorette contestant – who came in second on Ali Fedotowsky's season – is engaged to fellow reality star Peyton Wright, his rep confirms to PEOPLE.

Lambton, 34, proposed to Wright, 28, a past Bachelor and Bachelor Pad contestant herself, with a David Yurman round cut diamond ring on Saturday at his house in Cape Cod.

"I knew it the first day I met her – she walked in and I was like, 'Oh, my God,'" Lambton tells PEOPLE of Wright, whom he met through fellow Bachelorette contestant, Jesse Beck.

"Everything happens for a reason!" he adds of the way they met.

The couple, who have been dating since August 2010, will "just enjoy being engaged" for a few weeks before they begin to plan their wedding, he says.

"It's one of those things where I've had a ton of serious relationships and I met this kid and he was genuine, outgoing and hilarious and we just click," Wright said in January.

On his season of The Bachelorette, Lambton was a favorite, but narrowly missed out on Ali's final rose.

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