Specialist commercial property claims adjuster, Carr Greenwood Smith has been acquired by AMG, one of the UK’s leading claims management companies. Clearwater Corporate Finance advised the vendor and introduced AMG to the deal through its existing connections within the company.
Carr Greenwood Smith was formed in 1999 offering a superior loss adjusting service to insurers, brokers and corporate clients. The company now operates from offices in Birmingham, Bristol, Glasgow, Leeds, London, Manchester, Newcastle and Uxbridge, providing a nationwide service.
Dave Greenwood, partner with Carr Greenwood Smith said: “We are pleased that AMG clearly recognized our reputation for service and technical excellence, potential for growth and a strong cultural fit.”
With one of the highest levels of professionally qualified staff in the industry, Carr Greenwood Smith aims to provide a high quality, personal service and enjoys long-term relationships with many clients.
Dave Greenwood and John Carr, partners with Carr Greenwood Smith will represent the company on AMG’s management board.
AMG – formerly known as Ashworth Mairs Group – is based in Bromborough, Wirral. Founded in 1992, it has become one of the UK’s leading claims management companies and in 2005 underwent a management buy-out with backing from Hermes Private Equity. Clearwater advised the management team on the deal. In May 2006, AMG acquired Sigma Claims Solutions, a specialist liability adjusting business.
Kevin Wood, AMG’s group managing director commented: “This acquisition secures our position as a top three adjuster with the UK market and assists our growth strategy. Our core objective has always been and remains, organic growth, but this was a fantastic opportunity and too good to miss.”
Mike Reeves, partner with Clearwater who led the deal assisted by director Jon Mercer said: “Carr Greenwood Smith is a high quality operation with a strong management team, long-term customer relationships and an impressive financial track record. It is an excellent strategic acquisition for AMG and, with significant scope for synergies and for cross-selling, the deal offer benefits to both parties.”