Specialist loss adjuster QuestGates has purchased a majority stake in London-based Hyperion Adjusters for an undisclosed price.
Hyperion assists Lloyd’s Underwriters and insurers and gives specialist loss adjusting and risk management advice on an international basis for the entertainment, advertising and motor sport industries.
The company will continue to trade under its own name with the existing management and staff.
It is the fifth acquisition QuestGates made after its incorporation in 2003. Since then, the company generated revenue exceeding £20m till 30 June 2017.
QuestGates managing director Chris Hall said: "We have successfully integrated five businesses into our group over the past 14 years and I am particularly proud that most of the staff who transferred to QuestGates remain with us today.
“We are focused on organic growth through innovation, service delivery and strong client relationships. However we are committed to remaining the pre-eminent independent loss adjuster in the UK and so will continue to explore those opportunities that will allow us to further enhance our specialist areas of expertise.”
Chris continued: “Its management team share our owner-managed ethos and we are delighted that they have all agreed to remain with the business on a long term basis as shareholders."
Hyperion Adjusters managing director said: “We considered all potential options available to finance the further development of our business. We were particularly impressed by the financial stability and culture of QuestGates and the ability for everyone to share in its continued success.”
Image: QuestGates purchases majority stake in Hyperion Adjusters. Photo: courtesy of stockimages/Freedigitalphotos.net.