The move is designed to fast-forward business growth says managing director Scarrett
Loss adjusting firm Woodgate and Clark has purchased 100% of the share capital of Manchester-based Quadra Claims Services, a fellow UK loss adjusting business.
Founded in 2010, Quadra specialises in heritage and ecclesiastical buildings, high net worth losses and other property claims. The company also owns Quadrassist, a bespoke building contractor network.
The deal aims to provide Woodgate and Clark, which is part of the Van Ameyde Group, with complementary services in niche and specialist personal lines.
Plus, the acquisition will bolster the firm’s growth plans too – managing director Phil Scarrett said the purchase will accelerate the business’s growth by 20% over the next two to three years, helping the loss adjuster to expand into the mid-ranking loss adjusting space, which Scarrett believes has been hollowed out by consolidation in recent years.
He continued: “This is a great deal for us, our partners and their customers. Although we will go through some measured integration, this acquisition is about growth through collaboration and new proposition development, rather than cost cutting.
“Quadra shares a similar culture to us, especially our commitment to top quality customer service, led by highly experienced loss adjusters, delivering great outcomes for policyholders and insurer clients.
“Like us, Quadra’s business model and success is founded on building long-term relationships with clients and individual attention to detail.”
Following the acquisition, Quadra’s brand and offices will remain in situ, while the company’s 80 staff – including directors John Carr, Dave Greenwood and Simon Jones – will remain with the business.
Quadra director John Carr added: “Woodgate and Clark has the integrity and values we strongly identify with and I am hugely excited by the opportunity to become part of a bigger team.
“We see growth opportunities from increased scale, and the group will deliver additional investment in training the next generation of adjusters, which is a top priority for our industry.”
Parent company Van Ameyde Group, a claims management company that bought Woodgate and Clark in 2015, is also pleased by the purchase, Scarrett said - the firm has “encouraged us to seek inorganic growth opportunities where they made strategic sense” and has been “four square behind our strategy and eager for us to expand our product and service footprint in the UK”, he added.
“We have been committed to organic growth since 2015, but at the same time Van Ameyde has encouraged us to seek inorganic growth opportunities where they made strategic sense and our acquisition of Quadra meets all our priorities,” he continued.
“There may be additional opportunities for Quadra to partner our parent company in the UK, where they have a number of claims contracts with insurers and fleets.”