We’re not about to sell to rival, says GAB Robins

The loss adjuster GAB Robins has denied reports that it is in due diligence with a third party over a sale.

However, it is believed Cunningham Lindsey, a rival loss adjuster, could make a move for GAB Robins’ international division.

The private equity firm Stone Point Capital, which has a controlling stake in Cunningham Lindsey, is thought to be leading the attempt to merge the two businesses.

Brera, the venture capital firm that owns GAB Robins, went into “orderly liquidation” earlier this year. It is thought Brera now wants to dispose of the loss adjuster.

Cunningham Lindsey, which declined to comment, is believed to be stalling over a deal because GAB Robins has a multi-million-pound deficit in its pension fund.