Private equity firm Aquiline Capital Partners has acquired a majority stake in claim adjusters Worley Claims Services.
Founded in 1976, Worley is one of the largest independent providers of claims adjustment and related services in the US.
Jeff Greenberg, chief executive of Aquiline, said: "Worley has established a leading platform in claims administration and an impressive track record of efficiently managing claims for its clients after catastrophic events and on a daily basis. We are excited to be partnering with the Worley team and supporting the company through the next phase of its development."
"Aquiline's deep understanding of our business and its proven track record across the insurance industry make them our ideal partner," said Michael Worley, chief executive officer of Worley. "We are extremely appreciative of our former shareholders, Seaport Capital and Advantage Capital, and we are excited to engage with Aquiline to pursue opportunities to further strengthen and expand our client value proposition."
Bob Tamashunas, partner at Seaport Capital, said: "Seaport Capital wishes Mike Worley, the employees and the company continued success. We've thoroughly enjoyed our six-year partnership and working with management to execute their vision to make Worley one of the leading insurance claims adjusting firms in the United States."
Aquiline Capital Partners, Worley Claims Services, North America