SCM Insurance Services, a portfolio company of Canadian private equity firm TorQuest Partners, has bought the property and casualty divisions of Granite Global Solutions Inc. The acquired businesses, Granite Claims Solutions, Granite Health Solutions, CKR Global and Rochon Engineering, were sold for an undisclosed price by U.S. private equity firm Genstar Capital, which bought Granite in 2010. With headquarters in Edmonton, SCM is a provider of claims management and outsourced services and has been backed by TorQuest since 2010. TorQuest was profiled by peHUB Canada last September following the close of TorQuest Partners Fund III at $535 million.
SCM Insurance Services Acquires Granite Divisions to Become a Leading Force in the Canadian Insurance Services Industry
EDMONTON and TORONTO, Aug. 25, 2014 /CNW/ – SCM Insurance Services (“SCM”) today announced that it has completed the acquisition of the property and casualty (“P&C”) businesses of Granite Global Solutions (“Granite”).
The businesses being acquired are known by the following names: Granite Claims Solutions, a national adjusting firm; Granite Health Solutions, a provider of medical assessments and health services; CKR Global, a national provider of risk mitigation and investigation services; and Rochon Engineering, a forensic engineering and environmental consulting company.
“Our two companies are stronger together, and poised for further growth and opportunity,” said Larry Shumka, FCIP, President and CEO of SCM Insurance Services, who will lead the combined entity. “This transaction is consistent with SCM’s philosophy of building strong, autonomous brands, and a larger, more diverse company will better serve our customers with a portfolio of best-in-class services.”
“SCM brings scale and a focus on leading-edge technology that will make the combined entity a force in the industry, serving both insurance and corporate markets with the best possible solutions,” said Murray Wallace, President and CEO of Granite Global Solutions. “Granite’s employees, contractors and customers could not ask for a better home than SCM.”
SCM Insurance Services and Granite have worked diligently to ensure a smooth transition for customers and employees. The claims, health and investigations businesses will be added to the corresponding business units in SCM Insurance Services, respectively ClaimsPro, Cira Medical Services and Forensic Investigations Canada (FIC). Rochon Engineering will continue as a standalone company.
Day-to-day operations will continue seamlessly with services completely unaffected. Customers can continue to contact their existing client representatives for any needs they may have.
The executive leadership of the business units is as follows:
ClaimsPro and Granite Claims Solutions, as a combined company, will be led by Bob Fitzgerald, President of ClaimsPro. Michael Holden, President and CEO of Granite Claims Solutions, will serve as a special advisor.
Cira Medical Services and Granite Health Solutions will operate as distinct brands. Karen Seward remains President of Cira and Ian Elliott remains President of Granite Health Solutions, which operates under the brands of Sibley & Associates, Total Rehabilitation Management (TRM) and Multi Disciplinary Assessment Centre (MDAC).
FIC and CKR Global will be led by Robert Burns, President and CEO of CKR Global. Len Copp, President of FIC, will become Chief Operating Officer.
At Rochon Engineering, Doug Tremblay remains in his role as Managing Partner.
SCM Risk Management Services (RMS) and Opta Information Intelligence (Opta)’s leaders are Patrick Garuk and Greg McCutcheon, respectively.
SCM Insurance Services executive team led by Larry Shumka, President and CEO, is comprised of Ken Hansen, CFO, Jim Campbell, CIO, and Raymond Off, CHRO (Chief Human Resources Officer).
“As we discussed this exciting transaction, it became clear to both ourselves and Granite that the combination of industry-leading people, capabilities, geographies and business practices could create an exciting offering in our marketplace,” said Shumka. “We can’t wait to welcome Granite’s employees and continue to create opportunities for employees and customers alike.”
TorQuest Partners, one of Canada’s leading mid-market private equity firms, is the majority shareholder of SCM Insurance Services. Genstar Capital, a San Francisco-based private equity firm, is the majority shareholder of Granite.
About SCM Insurance Services
SCM Insurance Services has been servicing Canada’s insurance and corporate industries for the past twenty-eight years. As a privately-owned provider of claims and risk management, investigative and security services, independent medical evaluations and risk intelligence, SCM Insurance Services has distinguished itself through innovative technology, expert staff, and solid customer service. Visit www.scm.ca for more information.
SOURCE SCM Insurance Services
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