Claims management firm and loss adjuster, Cunningham Lindsey, has received an injection of cash from a group of investors led by CVC Capital Partners.
The move means that CVC has acquired majority ownership of the company, which employs around 7,000 staff operating across 61 countries.
Following the recapitalisation, the existing Cunningham Lindsey management team, led by chief executive officer Philippe Bès, will be retained.
In addition, Stone Point Capital and its affiliates, which acquired a majority interest in the company in 2007, will continue as substantial and active shareholders.
Commenting on the transaction, Mr Bès says. “CVC shares our vision for the future expansion of Cunningham Lindsey, and together with our long-standing partners Stone Point and Fairfax, will enable us to continue to expand and enhance our position in the key insurance markets.”
He adds: “CVC’s diversified international coverage will be a tremendous asset to capitalize on as we broaden our global presence supporting the unique capabilities and expertise that our clients need.”
Category: Companies News, Insurance News
