Sep, 2017 - Windjammer Exits Investment in Global Claims Services
Windjammer Capital Investors ("Windjammer") is pleased to announce that it has successfully exited its investment in Global Claims Services ("GCS" or the "Company") through a sale to PNC Riverarch Capital. Terms of the transaction were not disclosed.
Headquartered in Jacksonville, Florida with an additional operation in Alliston, Canada, GCS is a leading provider of laboratory and mobile testing services for flooring, siding and roofing claims processed by the property & casualty insurance industry.
In June 2012, Windjammer partnered with the GCS management team to acquire the Company. During Windjammer's ownership period, the GCS team has created growth through acquisitions, the introduction of new services, and the development and launch of a mobile app that offers on-site, same-day settlement of claims. GCS offers a compelling value proposition to its customers, which has translated into a leading market position for the Company and entrenched relationships with virtually every homeowners insurance company in the U.S. and Canada.
John Donahue, Managing Director of Windjammer, commented, "We congratulate Bob Logan and his team for the great job they have done building the Company. They defined GCS as the clear market leader, delivering to their customers highly accurate results through their high throughput lab and their best-in-class technology-driven mobile offering. The key to the Company's success has been its unwavering commitment to supporting the needs and growth of its customers. GCS is well positioned to leverage its technology platform to drive continued growth in the future with the support of PNC Riverarch."
Bob Logan, CEO of GCS, added, "We are very appreciative for the guidance provided by Windjammer over the years. They have been a great partner, committed to understanding the dynamics of our business and providing the strategic and financial support necessary to get us to this point in our development. We are excited to partner with PNC Riverarch to continue to expand our market leading capabilities and technology-enabled offerings."
William Blair & Company acted as the financial advisor to GCS, and Choate Hall & Stewart, LLP provided legal counsel.