HAMMOND and FISHERS, July 30, 2015 – Worley Claims Services (“Worley”), a recognized leader in insurance claims services in the United States, has announced the signing of a definitive agreement to acquire NCA Group, Inc. (“NCA”), a national provider of daily and catastrophe residential and commercial property claims services throughout North America.
The transaction creates a market-leading diversified claims services company, differentiated by its unparalleled ability to mobilize one of the largest adjuster networks in the United States for both daily and catastrophe claims events and provide an extensive range of claims-related services for its customers in all personal, commercial, environmental, and government markets. Aquiline Capital Partners, a New York-based private equity firm investing in financial services, acquired a majority stake in Worley last October.
“The combination of Worley and NCA is truly exciting and creates a powerhouse that delivers a superior experience for our customers and enormous opportunities for our employees,” said Jim Pearl, President of NCA. “By expanding our collective capabilities and resources, our ability to attract the best talent, invest in our technology, and develop new products for our customers across the full range of their claims needs, is stronger than it has ever been.”
“This is a transformational transaction for Worley and broadens our leadership position in comprehensive catastrophe management services to now include more daily and commercial capabilities, both areas that are strategically important to our growth,” said Allen Carpenter, President and Chief Operating Officer of Worley. “There’s a strong cultural fit between the firms, both known to be leaders in the industry for consistency, quality, innovation, and professionalism, and we look forward to building out and strengthening the combined platform.”
NCA will maintain its independent operations within Worley and the senior management teams will actively collaborate to maximize the advantages of the combined platform for the entire client, adjuster, and employee bases. Michael Worley will remain Chief Executive Officer of the combined company, and Allen Carpenter and Jim Pearl will run day-to-day operations as Co-Presidents.
StoneRidge Advisors, LLC acted as financial advisor to NCA.