19 June 2018Insurance

Crawford sells legal services subsidiary for $42m to Epiq

Crawford & Company, a provider of claims management solutions, has sold its legal administrative services unit Garden City Group (GCG) to legal services company Epiq.

According to Crawford's US Securities and Exchange Commission (SEC) filing, Epiq and Epiq Canada collectively paid about $42 million for the GCG business. The transaction closed on June 15.

Crawford said the sale allows it to focus on its core services of providing claims solutions globally and further solidify its position as market leader for independent claims management services. It also allows Crawford to invest additional resources in industry solutions where the company expects significant future growth.

As part of the agreement, Epiq will continue to provide ancillary support services to Crawford in support of its claims operations.

“This is an important transaction for Crawford that allows us to further concentrate our attention and resources on high-growth business segments where we have established leadership," said Harsha Agadi, president and CEO of Crawford & Company.

"Just as importantly, we have found a great home for our legal administrative services business and the dedicated GCG employees. The professionalism, commitment and contributions of GCG’s employees have been unmatched and I’m pleased they can continue their growth with a well-regarded leader in the legal administrative services industry.”

John Davenport Jr., chief executive officer of Epiq, said: “Crawford’s GCG is well known and respected in the industry and the transaction will create even more value for our clients. We look forward to welcoming GCG employees to Epiq and we look forward to further serving GCG clients.”

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