Cunningham Lindsey Completes Expansion in Germany, Spain, France

July 15, 2010

Claims specialists Cunningham Lindsey Group Limited have completed four strategic acquisitions in Europe. President and CEO Philippe Bès reported that the Group is “ahead of our internal plans in the implementation of this expansion program, and have completed most of our short term objectives in Europe.

“The company’s recent acquisitions in Germany, Spain and France complement our strong existing footholds in the major European markets and will further strengthen our presence in these three important European markets. We remain focused on opportunities to further expand our offering and coverage to our global and European customers.”

Details of the recently acquired facilities were given as follows:
Germany – Cunningham Lindsey has acquired 100 percent of Zorn Ingenieur Gesellschaft (ZIG). ZIG has operated in the German market for 25 years and is headquartered in Wülfrath, Germany. Their professional staff consists of ten engineers and one lawyer, in addition to administrative support.

ZIG is an established adjusting firm having particular expertise in the construction and engineering sectors. It is one of the largest independent adjusting businesses in Germany and enjoys an excellent reputation in that market.

Trading in the future as Cunningham Lindsey Zorn, this business will provide greater depth to our operations in Germany and will bolster the service offerings provided by our existing international office in Munich, which is headed by Markus Montigny. Together, they will provide complementary service offerings to our German and international customers.

Commenting on the sale to Cunningham Lindsey, Ulrich Mann, Managing Director of Zorn Ingenieur Gesellschaft said: “We are delighted to be joining Cunningham Lindsey, recognizing the extra skills and geographic coverage that the Group will bring to our existing client base.”

Chris Panes, Chief Executive of Cunningham Lindsey International added: “The acquisition of ZIG significantly enhances our ability to service our clients’ needs in Germany and we are delighted that a strong and well established organization like Zorn has agreed to join our Group.”

The contact details are:
Cunningham Lindsey Zorn
Wilhelmstraße 96
42489 Wülfrath
Germany
Tel: +49 2058 9230(0)20
Fax: +49 2058 923 (0)30
Mobile: +49 1708 124 092
Email: ulrich.mann@zorningenieure.de

Spain – Cunningham Lindsey has acquired 100 percent of Oterin S.A., which will considerably enhance our current business in Spain, Cunningham Lindsey Barlow. Oterin S.A. was established in 1980 and is one of the larger loss adjusters in Spain, with a head office in Madrid and branches in Seville, Alicante, Malaga, Oviedo and Bilbao. It has over 30 permanent staff and a network of agents operating throughout the country. The company also has an operation in Portugal.

Oterin and Cunningham Lindsey Barlow have already been working closely together and the two operations will be fully integrated during the next three months.

Fernando Suarez de Tangil, Managing Director of Oterin S.A, stated: “We are very pleased to become a part of the Cunningham Lindsey, one of the two largest firms of loss adjusters worldwide. Our coming together gives us an outstanding capability to deliver our services on a global basis, and to complement our long standing local expertise and capabilities. It also provides us with access to Cunningham Lindsey’s global technical resources.”

John Barlow, Managing Director of Cunningham Lindsey Barlow added: “Our strategic presence in Spain and Portugal is now considerably strengthened by the greater office spread and technical capabilities offered by Oterin in both the marine and non-marine business, and the integration of the operations will only enhance this.”

Panes described the acquisition as an “exciting development.” He noted that “we have developed a great working relationship with their senior management and appreciate the wealth of experience they bring to the Group. We are especially looking forward to extending our offering to Spanish insurers, brokers and multinational companies, operating globally, particularly in Latin America where we already enjoy a market leading presence.”

Contact details are:
Oterin S.A
Calle Orense, 32 – piso 1o
Oficina 7
28028 – Madrid
Tel: +34 91 556 48 51
Fax: +34 91 597 04 99
Email: suarezf@oterin.com

France – Cunningham Lindsey has acquired the balance of the equity it did not already own in Cunningham Lindsey Est, headquartered in Metz, France. Michel Lafontaine, formerly Managing Director of Cunningham Lindsey Est has now been appointed Regional Manager for the eastern operations of Cunningham Lindsey France.

Cunningham Lindsey France also acquired the remaining 20 percent minority holding in LDM Expertises and now owns 100 percent of LDM Expertises. In connection with this acquisition, Francois Jeanneau, formerly Managing Director of LDM has appointed Co-Head of the western operations of Cunningham Lindsey France.

These 2 acquisitions complete the integration of Cunningham Lindsey France, which now combines the former operations of Cunningham Lindsey and GAB Robins Francexpert.

Yann de Mareuil, Chief Executive of Cunningham Lindsey France noted: “With these two acquisitions, Cunningham Lindsey France now has a wholly-owned network in France, enabling us to concentrate on expanding our offering to both our local and international customers”.

Contact details are:
Cunningham Lindsey France S.A
17, rue Saulnier
75009 – Paris
Tel: + 33 1 4022 8000
Fax: + 33 1 4022 8001
Email: ydemareuil@cl-fr.com

Source: Cunningham Lindsey Group

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