Worley Claims Services LLC, which is backed by Aquiline Capital Partners, has acquired Westfield, Massachusetts-based Apex Claims Service of New England LLC, a provider of daily and catastrophe commercial and residential property claims. No financial terms were disclosed. StoneRidge Advisors LLC advised Worley on the transaction.
HAMMOND, La.–(BUSINESS WIRE)–Worley Claims Services, LLC (“Worley”), a recognized leader in providing insurance claims services in the United States, today announced the acquisition of Apex Claims Service of New England, LLC (“Apex”), a provider of daily and catastrophe commercial and residential property claims based in Westfield, Massachusetts. Financial terms of the transaction were not disclosed. StoneRidge Advisors, LLC advised Worley on the transaction.
Founded in 2005, Apex has established itself as a leading property claims adjusting and services provider in the Northeast. The company specializes in providing daily and complex loss adjusting services for regional and national insurance carriers.
“Apex has a fantastic reputation of delivering outstanding service in the industry and offers a strong platform to support Worley’s continued growth in the Northeast,” said Jim Pearl, CEO of Worley. “This acquisition enhances our ability to service our clients in this region with a talented team of adjusters with strong commercial property expertise. We are very pleased to have Tom, Doug, Marion and the Apex team joining Worley.”
“Apex Claims is excited to join the Worley team as we continue with our goal of providing high quality claims service to our customers,” said Tom Abel, Co-Owner of Apex. “Worley is an industry leader in the property claims industry and their expertise and resources will add to our work and high standards. We are thankful for their support and professionalism during this transitional period and look forward to many years of a successful partnership.”
The agreement with Apex is Worley’s fifth acquisition since 2015. In July of 2015, Worley acquired NCA Group, a provider of daily and catastrophe residential and commercial property claims services throughout the U.S. In October of 2015, Worley acquired Charlotte, North Carolina-based RJMW Claims Services, a regional provider of daily and catastrophe residential and commercial property claims services. In July of 2016, Worley acquired San Jose, California-based Summit Independent Claim Services, which provides commercial/GA and residential property loss adjusting services. Most recently, in August of 2016, Worley acquired Orlando, Florida-based Nexxus Solutions Group, a national managed repair contractor and service provider network serving the property insurance industry in the U.S. and Canada.
About Worley Claims Services
Worley, based in Hammond, Louisiana, is one of the largest independent providers of insurance claims management services in the United States. Worley provides property, auto, and casualty claims adjustment services and staffing solutions to national and regional insurance companies, MGAs, TPAs, self-insured corporations, as well as clients in the federal/state government sector. Aquiline Capital Partners, a New York-based private equity firm investing in financial services, acquired a majority stake in Worley in October of 2014.
For more information, please visit: www.worleyco.com.
About Apex Claims Service of New England
Apex Claims Service of New England is a property claims adjusting firm providing services for commercial and residential property losses in New England. Apex specializes in daily and complex adjustment services. Apex’s focus is to exceed the expectations of the policy holder and the insurance carrier by delivering the highest quality of claims service. For more information, please visit: www.apexclaims.com.