Global Claims Services, Inc.
Industry: Business Services/Laboratory Testing & Data Analysis
Investment Date: Jun-12
Company Location: Jacksonville, Florida
GCS, headquartered in Jacksonville, Florida, with operations in Ontario, Canada, provides mission critical laboratory testing services and data analysis to insurance companies. GCS, which operates under the ITEL brand in the United States, tests damaged flooring, roofing and siding samples submitted by property insurers, claims adjusters and homeowners to determine the fair value to replace the policy’s holders damaged materials with a like kind and quality product. Additionally, GCS provides matching services for siding and roofing products. The Company serves as an independent lab and data source to ensure that all parties, including the policyholder, insurer and adjuster involved in the claims process are treated fairly. GCS is a leader in the industry and utilizes a proprietary database and testing methodology to provide highly accurate tests results within a 24 hour time frame.
Add-on Target Description: Global Claims Services, Inc. (“GCS”) seeks to acquire businesses serving the property & casualty insurance industry. GCS is looking to partner with service providers with strong customer relationships that provides mission critical services with a scalable business model. Service segments of particular interest include claims service, underwriting service, data analysis (natural hazard, roofing and other property data), contents evaluation, forensic engineering, and management software providers. Additionally, GCS seeks to acquire businesses in the laboratory testing service space that provide mission critical analysis based on proprietary knowledge analytics, or systems. End markets of particular interest include building materials testing and general materials testing.
Add-on Target Location(s): North America, UK and Europe
Add-on Target Size: Revenues of at least $2 million