Worley Claims Services LLC (Worley), a provider of insurance claims services in the U.S., has acquired Apex Claims Service of New England LLC (Apex), a provider of daily and catastrophe commercial and residential property claims based in Westfield, Mass.
Financial terms of the transaction were not disclosed. StoneRidge Advisors LLC advised Worley on the transaction.
Founded in 2005, Apex has established itself as a property claims adjusting and services provider in the Northeast. The company specializes in providing daily and complex loss adjusting services for regional and national insurance carriers.
The acquisition allows Worley to enhance its ability to service clients in the Northeast region of the U.S., said Worley CEO Jim Pearl in a company press release.
The agreement with Apex is Worley’s fifth acquisition since 2015. In July of 2015, Worley acquired NCA Group, a provider of daily and catastrophe residential and commercial property claims services throughout the U.S.
In October of 2015, Worley acquired Charlotte, N.C.-based RJMW Claims Services, a regional provider of daily and catastrophe residential and commercial property claims services.
In July of 2016, Worley acquired San Jose, Calif.-based Summit Independent Claim Services, which provides commercial/GA and residential property loss adjusting services.
Most recently, in August of 2016, Worley acquired Orlando, Fla.-based Nexxus Solutions Group, a nationally managed repair contractor and service provider network serving the property insurance industry in the U.S. and Canada.
Worley, based in Hammond, La., provides property, auto and casualty claims adjustment services and staffing solutions to national and regional insurance companies, MGAs, TPAs, self-insured corporations and clients in the federal or state government sector.
Aquiline Capital Partners, a New York-based private equity firm investing in financial services, acquired a majority stake in Worley in October of 2014.
Source: Worley Claims Services LLC
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