Worley Claims Services LLC in Hammond has acquired Audit Services Inc., an Atlanta-based claim estimate writing and review provider for the property and auto insurance markets.
The price was not disclosed. The transaction is insurance claims services company Worley’s sixth acquisition since 2015. Aquiline Capital Partners, a New York private equity firm investing in financial services, acquired a majority stake in Worley in October 2014.
“ASI offers Worley a strong platform to help expand our property and auto estimate review services,” said Jim Pearl, chief executive officer of Worley. “This acquisition enhances our capabilities to service our national and regional insurance carrier partners and aligns with our long-term strategy to continue making investments that will allow us to be a more comprehensive service provider capable of meeting the needs of our clients throughout the claim lifecycle.”
All 350 employees of ASI are expected to continue in their current roles and have expanded opportunities as part of a larger organization, said ASI CEO John Hall.
Founded in 1998, ASI specializes in providing desk estimate review, post repair audits, total loss estimates and call center capabilities.
Worley provides property, auto and casualty claims adjustment services and staffing services to national and regional insurance companies, agents, third-party administrators, self-insured corporations, as well as clients in the federal and state government sector.
StoneRidge Advisors LLC advised Worley on the ASI transaction.
Among its other acquisitions, Worley acquired in July 2015 Fishers, Indiana-based NCA Group, a provider of daily and catastrophe residential and commercial property claims services throughout the U.S.; in October 2015, Charlotte, North Carolina-based RJMW Claims Services, a regional provider of daily and catastrophe residential and commercial property claims services; in July 2016, San Jose, California-based Summit Independent Claim Services, which provides commercial/general agent and residential property loss adjusting services; in August 2016, Orlando, Florida-based Nexxus Solutions Group, a national managed repair contractor and service provider network serving the property insurance industry in the U.S. and Canada; and in June 2017, Massachusetts-based Apex Claims Services of New England, a regional provider of property claims services.