Crawford & Company acquires Penta
LONDON, July 03, 2019 (GLOBE NEWSWIRE) -- Crawford & Company (NYSE: CRD-A and CRD-B), the world’s largest publicly listed independent provider of claims management and outsourcing solutions to insurance companies and self-insured entities, has announced the acquisition of 100% of the shares of Penta Expertise & Consult NV(Penta).
The acquisition demonstrates Crawford’s strategic commitment to expand its capabilities in the Benelux region. Penta provides Crawford with an enhanced capability to deliver the full range of loss adjusting, accounting, engineering and loss mitigation services offered by Crawford Global Technical Services (Crawford GTS) directly to clients across the Benelux region.
Headquartered in Antwerp, Penta delivers a range of highly specialized loss-adjusting services for complex claims, with a particular focus on the construction and engineering sectors. Launched in 2003, it services a broad spectrum of clients, including major insurance carriers, brokers, corporate clients and self-insured entities with operations or activities in Belgium.
Commenting on the acquisition, Harsha V. Agadi, president and chief executive officer of Crawford, said, “The acquisition of Penta provides us with an increased level of expertise in a key territory. The Penta team already maintains a high reputation within the Benelux market for superior client service and now, with the full weight of the Crawford leadership and strategic direction, that quality of service will only increase. By establishing an ever-stronger local market presence across the world, we can offer the full range of Crawford services to our constantly expanding client base and ensure that we deliver on our mission to restore and enhance lives, businesses and communities.”
Lieven Gurny has been appointed as managing director of Penta, which will continue to operate as Penta. He will report to Mike Jones, president, Europe, and will work closely with the wider Crawford Benelux team. Gurny is a highly experienced loss-adjusting professional, having managed complex claims across the Benelux region for many years.
Lieven Gurny said, “We are excited to join the largest and most experienced major and complex loss adjusting network in the world. Becoming part of Crawford & Company provides our clients and employees access to the newest technologies and innovations available in order to improve the lives of clients and policyholders. By combining our strengths, we will create a compelling loss adjusting and claims management option for Benelux.”
Mike Jones added, “Penta is a perfect fit for Crawford. They bring an extremely high caliber of specialist loss adjusters to our organization, operating within a team-oriented and service-focused culture. Our aim at Crawford is to be the leading provider and most trusted source for expert assistance. Acquisitions such as this help bolster our on-the-ground presence and boost the standard of client delivery we are constantly reaffirming.”
Based in Atlanta, Crawford & Company (NYSE: CRD‐A and CRD‐B) is the world’s largest publicly listed independent provider of claims management and outsourcing solutions to insurance companies and self‐insured entities with an expansive global network serving clients in more than 70 countries. The Company’s two classes of stock are substantially identical, except with respect to voting rights and the Company’s ability to pay greater cash dividends on the non-voting Class A Common Stock (CRD-A) than on the voting Class B Common Stock (CRD-B), subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of CRD-A must receive the same type and amount of consideration as holders of CRD-B, unless different consideration is approved by the holders of 75 percent of CRD-A, voting as a class. More information is available at www.crawco.com.