Flexpoint Ford, LLC, a private equity firm focused on the financial services and healthcare sectors, announced a definitive agreement to sell T&H Global Holdings, LLC and its subsidiaries, VeriClaim, to Sedgwick Claims Management Services, Inc..
The primary investors of Sedgwick are affiliates of Kohlberg Kravis Roberts & Co. L.P. and Stone Point Capital LLC. VeriClaim has been majority owned by affiliates of Flexpoint since March 2011.
T&H Global Holdings, LLC, through its subsidiaries VeriClaim, Inc., VRS VeriClaim U.K. Ltd, Unified Investigations & Sciences, Inc., Cramer, Johnson, Wiggins & Associates, Inc., (CJW) and Ellis May, is a specialized insurance claims services provider to insurance carriers, insurance brokers, corporations and public entities. The company leverages its specialized domain expertise, experienced professional staff and process knowledge to provide its clients loss adjusting, third-party claims management and fire and forensics investigation services. The company was founded in 1918 and is headquartered in Naperville, Illinois.
The transaction is expected to close within the next 60 days, subject to customary regulatory approvals. Following the transaction, VeriClaim will operate as a subsidiary of Sedgwick.
Kirkland & Ellis LLP served as legal advisor to Flexpoint Ford, LLC. Simpson Thacher & Bartlett LLP served as legal advisor to Sedgwick.
Source: Flexpoint Ford, LLC
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