J.C. Held LLC, which is backed by Lovell Minnick Partners, has acquired Chroma Building Corp‘s property loss unit. No financial terms were disclosed.
Jericho, NY and Stamford, CT – July 13, 2015 – J.S. Held LLC, the leading consulting firm in the insurance industry, today announced the acquisition of the Property Loss Division of Chroma Building Corp. Doug DePhillips, the company’s President, joins J.S. Held as Senior Vice President. Terms of the private transaction were not disclosed.
DePhillips brings 30 years of experience in the building and construction industry to J.S. Held.
Prior to starting his own company, he held positions of increasing responsibility, including Project Executive and Deputy Operations Manager, at Turner Construction, an international construction services company and leading builder in diverse market segments. At Turner, DePhillips led many high profile projects in the NY area and Florida. He also had management level responsibilities for operations, sales, and professional development.
“Doug’s construction expertise is widely recognized by the industry’s leading insurance carriers and adjusters. He has a strong track record of providing premium, dedicated service to clients,” said Jonathon Held, President and Chief Executive Officer of J.S. Held, which has over 20 locations across North America. “The addition of Doug to our leadership team will further strengthen our company, and he will assume responsibility for talent recruitment and professional training. In addition, his deep experience in dispute resolution and expert testimony will be an important enhancement to our services and additive to our growth plans.”
“I am excited to join J.S. Held. I have known and respected the J.S. Held team for years and have seen the high caliber results of their work,” said DePhillips. “This partnership will provide us further opportunities to expand our geographic footprint by moving into adjacent and complementary service lines, with the support of J.S. Held’s strong professional staff.”
Chroma Building Corp. will continue to operate its commercial building supplies and contracting businesses from offices in Stamford, Connecticut.
Earlier this year, J.S. Held received a controlling investment from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies.
About J.S. Held LLC
Founded in 1974, J.S. Held has extensive experience in all facets of construction consulting, including estimating, scheduling, project monitoring, and litigation services. J.S. Held’s consultants have evaluated damage to more than 100,000 buildings and structures throughout the world and have experience working on all types of engagements including insurance claims related to commercial, industrial, high rise, special structures, governmental, residential, and infrastructure damages. The Company serves its clients from over 20 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.
About Chroma Building Corp.
Chroma Building Corp. is a national building consulting and contracting company that offers its customers consulting, project management, and general contracting services. With over 30 years of experience, the company’s experts are comprised of professionals from all facets of the construction and financial industries and have consulted on, managed and/or estimated billions of dollars in buildings, structures and facilities. For more information on Chroma Building Corp., please visit www.chromabuilding.com.