UK directors in talks over MBO
Loss adjuster Gab Robins today confirmed the sale of its international subsidiaries, excluding the United Kingdom, to Cunningham Lindsey.
Cunningham Lindsey also snapped up Gab's forensic engineering unit, EFI Global.
It was also confirmed Gab's majority owner, Brera Capital, is in advanced talks with UK directors over a management buyout of the UK arm.
The decision to sell its international and engineering units allows GAB Robins to further focus on its core strengths in the North American property and casualty market while continuing to meet the global loss adjusting needs of its customers.
"Over the course of its 123-year history, GAB Robins North America has been providing superior quality loss adjusting, claims administration, and managed care services to insured and self-insured customers," said Edward Troy, chairman and CEO, GAB Robins Group of Companies. "We are excited about the prospect of focusing our full energies on North America."
Led by its elite team of Executive General Adjusters and National General Adjusters, GAB Robins North America loss adjusters are among the best trained and most experienced in the industry and they will continue to adjust losses in the U.S. and throughout the world. The company's
North American third-party administration business provides expert workers' compensation, casualty and related claims services across all 50 states. MedInsights, GAB Robins' managed care subsidiary, specializes in medical cost containment and return-to-work programs for workers' compensation and other lines. In 2008, the company established GAB
Robins Aviation, LLC, which provides comprehensive loss adjustment andclaims management services to the aviation industry. GAB Robins Aviation, LLC, now has 10 offices in the United States and is part of an extensive global network.
"Moving forward, our mission remains unchanged," said Troy. "GAB Robins is a business partner ever-focused on providing superior, innovative and cost-effective services to help clients reduce their loss costs."
Credit Suisse acted as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to GAB Robins on the transaction.
