SCM Insurance Services, a portfolio company of Canadian private equity firm TorQuest Partners, has acquired Nixon & Co Inc, a St. Louis, Missouri-based insurance adjusting business. No financial terms were released. SCM, an Edmonton-headquartered insurance services provider, said the deal facilitates its initial entry into the United States and will help build out the company’s service offerings both domestically and into the Lloyd’s of London marketplace. Founded in 1986, SCM has been backed by TorQuest since 2010. TorQuest last year raised $925 million in the close of TorQuest Partners Fund IV.
SCM Expands into the United States with the Acquisition of Nixon & Company, Inc.
CHICAGO, May 3, 2017 /CNW/ – SCM Insurance Services, Canada’s largest independent, privately-owned insurance services provider, today announced that it has made its initial entry into the United States by acquiring Nixon & Company, Inc.
This acquisition reinforces SCM’s focused commitment to expand geographically in line with the needs of its clients who are seeking market leading offerings in third party administration and innovative adjusting solutions. Nixon & Company, Inc. was founded more than 40 years ago and remains headquartered in St. Louis, Missouri. As an industry leader, Nixon provides a new platform from which SCM will continue to build out its service offerings both domestically and into the Lloyd’s of London marketplace.
SCM announced its intention to expand into the United States with the hiring of Scott Goodreau in the Fall of 2016 as the company’s Chief Operating Officer – USA. Mr. Goodreau, an executive with 20 years’ experience in the industry, has held diverse leadership positions for distribution, carrier, and technology companies.
“This is a strong opportunity, not only for us as organizations, but for our clients,” began Scott Goodreau. “SCM studied the U.S. market closely before deciding that this was both the right time, and Nixon the right company, to begin our expansion into the United States.”
“From our initial discussions with SCM, we knew we had a common set of values, a common belief that a market exists for both critical mass and exceptional customer service and the two are not mutually exclusive,” said Mark Nixon, President, Nixon & Company.
“The addition of the talented team of people at Nixon exemplifies our commitment to serve customers across North America,” stated Bob Fitzgerald, CEO of SCM Insurance Services. “Leveraging our market leading technology, management information and skilled professionals, Nixon will accelerate the next phase of our development.”
About SCM Insurance Services
SCM Insurance Services has been servicing the insurance and risk management community since 1986 with over 200 locations and 2,600 employees. As a privately-owned provider of claims adjusting, third party adjusting (TPA), risk management, investigation, surveillance, risk mitigation, medical services, forensic engineering services, and risk intelligence, SCM has distinguished itself through innovative technology, expert staff and solid customer service. The SCM Insurance Services Group of Companies includes ClaimsPro, International Programs Group (IPG), Xpera Risk Mitigation & Investigation, Cira Health Solutions, Pario Engineering & Environmental Sciences, SCM Risk Management Services (RMS), and Opta Information Intelligence. Visit www.scminsuranceservices.com for more information.
About Nixon & Company
More than 40 years ago, Nixon & Company was founded with a team of experienced adjusters and support personnel with superior expertise, an exceptional work ethic, and the desire to create products and services a cut above the competition. In 1984, this same matrix was the foundation for the creation of Claim Management, Inc., known as CMI/Nixon & Company. Nixon’s head office is located in St. Louis, MO, with additional offices in Kansas City, MO, Cape Girardeau, MO, Columbia, MO, and Chicago, IL.
For further information: Bikram Daulay, Senior Vice President of Marketing & External Communications, SCM Insurance Services, T: 780.930.5321, E: firstname.lastname@example.org; Scott Goodreau, Chief Operating Officer – USA, SCM Insurance Services, T: 312.646.2334, E: email@example.com; Bob Fitzgerald, Chief Executive Officer, SCM Insurance Services, T: 416.360.7434, E: firstname.lastname@example.org
Photo courtesy of Photobuay/iStock/Getty Images