Ashworth Mairs Group completes buyout backed by Hermes Private Equity

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Hermes Private Equity has backed the £62 million Management Buy–Out of Ashworth Mairs Group (AMG), a leading loss adjuster and outsourced service provider to the UK insurance sector. The Royal Bank of Scotland, Corporate & Structured Finance team in Manchester has provided debt funding.

Clearwater International are delighted to have led, structured and arranged the deal for the Ashworth Mairs Group and is a further example of Clearwater’s deal making capabilities in the private equity arena.

Established in 1992, North West-based AMG has shown sustained growth based on its consistent high quality service delivery and strong customer relationships. The company is one of the largest UK loss adjusting businesses, providing a diverse range of supply chain solutions and operates from ten locations with over 250 employees.

“The Management Team and Hermes Private Equity are passionate about the business and the opportunities our market presents. We look forward to building on our past successes and we remain focussed on providing our clients and their customers with integrated claims management solutions, underpinned by our core values of outstanding quality and inspired service. Business as usual will be the underlying theme going forward. The Management Team will continue to work closely with clients in order to anticipate and respond to their needs”.

Kevin Wood, Group Managing Director, Ashworth Mairs

“AMG is a leading player in the insurance services market and the growth opportunities available to the business means it is an ideal private equity deal.”

Michael Reeves, CEO, Clearwater International