?Claims specialist Aquilo has sold two of its business units a week after delisting from the stock market.
Aquilo’s building claims business, AIRS, has been sold to building maintenance company Rok for £2.1m.
Meanwhile Aquilo’s home contents replacement service, ABS, has been bought by Powerplay Direct, for an undisclosed price.
Rok and Powerplay said the acquisitions would enhance their respective services to the insurance market.
AIRS will be integrated into Rok’s maintenance operations, while ABS will be rebranded as Powerplay Direct Business Solutions.
Aquilo chief executive Clive Nicholls and chief operating officer Arthur Rackstraw will be joining Rok.
Nicholls said: “Rok’s acquisition of AIRS will enable the business to develop from a strong financial platform.
“AIRS has achieved steady growth since its launch in October 2006 as insurers have recognised the cost savings and policyholder satisfaction achievable.”
Aquilo delisted last week (News, 13 September) saying the benefits of a listing were outweighed by the high costs.