By David Bull
March 3 - (The Insurer) - Claims management specialist Alacrity Solutions Group has received $175 million in new capital to support growth and technological innovation from its existing financial partners, including investment firms Antares Capital, Blue Owl Capital and KKR.
The firm said the move reinforces its commitment to providing “best-in-class service to carriers nationwide”.
The transaction includes securing the $175 million capital injection and eliminating around $1 billion of debt, which the Fishers, Indiana-based firm said will ensure its capital structure is aligned with its long-term growth strategy.
It added the investment will drive continued expansion into new coverage areas, accelerate the development of innovative technological solutions and continue “setting the standard in insurance claims management”.
The firm’s CEO, Jim Pearl, said: “This transaction recognizes Alacrity’s commitment to building on its track record of excellence while paving the way for long-term growth.
“I am grateful for the committed support of our financial partners and look forward to our continued success as we work together to deliver best-in-class claims management services to our customers.”
In a statement, Alacrity added that its current management team will remain in place to lead the business, with its services and operations set to continue “in the ordinary course, without disruption”.
Alacrity provides property, auto and casualty claims adjustment services; staffing solutions, temporary housing services; a repair network; and subrogation and recovery solutions to national and regional carriers, MGAs, TPAs, self-insured corporations and clients in the government sector.
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