Van Ameyde Group company Woodgate & Clark is eying 20% growth over the next two to three years after acquiring Manchester-headquartered Quadra Claims Services for an undisclosed sum.
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 acquisition of Quadra will accelerate Woodgate & Clark’s growth by 20% during the next two to three years, according to managing director Phil Scarrett.
He says: “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.”
Quadra will maintain its own brand and offices following the acquisition, with its 80-strong team, including directors John Carr, Dave Greenwood and Simon Jones, becoming part of the bigger group.
Carr says: “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, says he is aiming to grow into the mid-ranking loss adjusting space.
He continues: “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 adds that Woodgate & Clark’s parent, Van Ameyde, the European 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.”