Woodgate and Clark Limited [Woodgate & Clark] has acquired 100% of the share capital of Quadra Claims Services Ltd [Quadra], the UK loss adjuster headquartered in Manchester.
Quadra was founded in 2010 and specialises in heritage and ecclesiastical buildings, HNW losses and other property claims. The company also owns Quadrassist, a bespoke building contractor network.
The deal will give Woodgate & Clark access to complementary services in niche and specialist personal lines and accelerate growth by 20% during the next two/three years, according to managing director Phil Scarrett, who said:
“This is a great deal for us, and 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.
Phil explained that the Quadra brand and offices will remain in situ and the whole 80 -strong team, including directors John Carr, Dave Greenwood and Simon Jones, will become part of the bigger Group.
He said: “There will be no job losses as a result of this deal; on the contrary, this is a growth story, and we expect that our added scale will build growth and lead to more recruitment for the business over time.”
He added: “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 policy holders 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.”
Quadra director John Carr said: “Woodgate & 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.”
Phil Scarrett, managing director of Woodgate & Clark, said he wanted to grow into the mid-ranking loss adjusting space, which in recent years has been hollowed out by consolidation. “Our focus is on technical excellence, efficient processing, controlled indemnity spend and treating each policyholder as an individual, which despite the broader, Covid-driven changes going on in claims, will always be top priorities for our insurer clients.”
“This deal aligns Quadra’s track record in niche adjusting with our strong heritage in commercial claims, enabling us to bring our propositions to Quadra’s clients and vice versa.”
He said that Woodgate & Clark’s parent, Van Ameyde, Europe’s market leading claims management company, which acquired Woodgate & Clark in 2015, was “four square behind our strategy and eager for us to expand our product and service footprint in the UK.”
“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 added: “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.”
The acquisition completes immediately and the consideration is undisclosed.