AXA Buys Ohio’s Matrix

AXA Corporate Solutions announced from Paris that it has acquired the consulting firm Matrix Risk Consultants Inc., based in Miamisburg, Ohio. It described the deal as part of a move to strengthen “its capacity to deliver loss prevention services and solutions to its international clients in the USA.”

Matrix will also benefit from the tie-up as it seeks to “further develop its unbundled risk management consulting services beyond the US into Europe and Asia,” said the bulletin. “This will be done under the Matrix brand name. In the US, bundled services will continue to be marketed under the AXA Corporate Solutions Services brand name.”

Jean-Paul Rignault, chief executive of AXA Corporate Solutions notes the “considerable synergy” the deal would provide both organizations, as they “share the same ambition to improve client servicing by delivering LP and RM services and solutions on a more global basis.”

He praised Matrix as a “well-run and highly-specialized business, adding that it would ” add diversity to our risk engineering practice with its expertise in the US of unbundled services.” He added: “Although the two operations will remain separate, we will now have property loss control engineering services both on a bundled basis (service linked to an insurance contract) as well as unbundled (pure service).”

Matrix CEO Walter Luker said the deal fits its strategy to develop new resources to enhance both services and benefits to all customers – for example, by sharing a continuing engineer training program, and by offering new challenges for all staff members and new opportunities for its clients.

Source: AXA Group – www.axa.com

Topics Mergers & Acquisitions USA Ohio AXA XL