FOR IMMEDIATE RELEASE
ACQUISITION OF GAB ROBINS IS COMPLETED
Parsippany, NJ – The acquisition of the GAB Robins group of companies, the second-largest independent loss-adjustment provider in the world and a major provider of third-party claims administration services for the alternative risk market, by Brera Capital Partners LP was completed today.
Under the terms of the transaction, Brera, a New York-based private investment firm, has acquired 90.5% through its subsidiary Brera GAB Robins LLC, while GAB Robins' previous owner, SGS Societe Generale de Surveillance Holding S.A., retains a 9.5% common stock interest.
"We're very excited about the opportunities ahead of us. As the trend toward unbundling insurance services continues, GAB Robins is in an excellent position to become the leading provider of insurance claims services thanks to our brand, franchise and reputation," says Joseph M. Zubretsky, who was recently named President and Chief Executive Officer of Brera GAB Robins LLC.
Jun Tsusaka, a Principal of Brera, states: "This acquisition represents a superb opportunity to partner with a global leader and actively build on its strengths. We believe insurance companies will continue to refine their focus on core competencies and cost control. This will drive demand for top-quality services like those that GAB Robins provides. We at Brera will provide the company with a new level of dedicated, focused stewardship challenging GAB Robins to pursue an ever-broader range of opportunities in its industry sector with renewed aggressiveness. Our goal is to give GAB Robins the resources and impetus to leverage to their fullest potential the enviable expertise of its professionals and its world-wide network of offices."
New Management Appointments
Zubretsky has named Philippe Bes the Chief Operating Officer of GAB Robins' global loss adjusting organization. Bes was the Chief Executive Officer of GAB Robins Holdings United Kingdom. Clive Nichols, currently Managing Director of Robins Response, will succeed Bes as CEO of the company's UK operations.
"I'm very pleased to have Philippe and Clive join me on the global loss adjusting management team. Their appointments are an important step in creating a more seamless global loss adjusting organization at GAB Robins," says Zubretsky. "Philippe's experience and excellent management skills, and Clive's knowledge of the UK market, will be tremendous assets as we strengthen our worldwide presence, delivering quality services that are flexible and responsive to customers needs anywhere in the world."
Nichols will be based in London while Bes will be relocating to GAB Robins' global headquarters in the United States, where he will be reporting to and working closely with Zubretsky. GAB Robins' loss adjusting operations in the US, will continue to be led by Jim Girard, Vice President of the Western Region, and Clint Kenner, Vice President of the Eastern Region, who will now report to Bes. Bes will also be responsible for the company's engineering, fire investigation and environmental claims and loss-control business units. GAB Robins' US-based third-party administration business unit (Risk Management Services) and its MedInsights, Inc. (healthcare management) subsidiary will report directly to Zubretsky.
Bes joined GAB Robins UK as Executive Director of Finance and Administration in 1997 and became CEO with responsibility for Scully Tyrell in Ireland in 1998. During this period, the UK operations grew revenues, profits and service quality despite significant competitive pressure.
Nichols joined GAB Robins UK in 1981 and has worked closely with Bes over the past three years. He has held various senior positions, including National Director of Business Development. In 1997, he was given responsibility for Robins Response and was also the architect for the UK division's turnaround.
GAB Robins has operations in 37 countries and provides the world's most comprehensive network of loss adjustment, risk management and investigative services. With more than 4,400 GAB Robins employees, the Company handles more than 1.7 million claims annually, providing seamless claims services domestically and internationally for the global property and casualty insurance market. For more information, visit www.gabrobins.com.
Brera Capital Partners LP, a $650 million private equity investment fund based in New York City, invests in a very limited number of companies in a few selected industries including telecommunications, financial services and outsourcing. Brera seeks to increase value by bringing to each investment proven experience in building successful companies, a spirit of true partnership with management and an unconditional commitment always to do what is right for the company.
