QuestGates acquires specialist international loss adjusting company
Leading specialist loss adjuster, QuestGates, has agreed to acquire a majority interest in London-based Hyperion Adjusters Ltd.
Supporting both Lloyd’s Underwriters and insurers in the wider market, Hyperion Adjusters Ltd provides specialist loss adjusting and risk management advice on an international basis for the entertainment, advertising and motor sport industries. Its adjusters have developed specific expertise within the contingency, non-appearance and lottery/prize indemnity markets.
The business will be integrated into QuestGates but will continue to trade under the Hyperion Adjusters name and the current management team and staff will all be retained.
Commenting on the acquisition QuestGates Managing Director, Chris Hall, says: “Hyperion Adjusters is a highly specialist business with a strong reputation for service delivery, complementing our existing expertise. 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.”
Managing Director of Hyperion Adjusters, Shaun Coyne, comments: “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. We are excited to become part of the group and to offer an enhanced range of claim services to our clients. We look forward to working with our new colleagues at QuestGates.”
This is the fifth acquisition that QuestGates has made since incorporation in 2003. In that time it has grown its staff to almost 250 people and revenues have grown year on year, surpassing £20M in the year to 30 June 2017.
Hall adds: “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 focussed 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.”