Acquisition Opens New Markets and Enhances Loss Adjusting & Claims Management Capabilities
ATLANTA, GA – USA– October 2, 2020 – McLarens, a leading, global independent insurance services provider, is pleased to announce the strategic acquisition of CNZ Group Holdings Limited (CNZ Group), and its subsidiaries, which combined, is one of the largest multi-discipline full-service loss adjusting, claims and repair management businesses operating in New Zealand. Headquartered in Auckland, CNZ Group was heretofore an employee-owned and operated associate of Crawford & Company.
With a nationwide 26-office presence in New Zealand, CNZ Group’s team of more than 200 employees provides full-service claims handling and dispute resolution, across multiple business lines including property, business interruption, construction & engineering, casualty, motor, marine and professional building consultancy. The company also maintains a broad supplier network for reinstatement services in the country.
Natural Strategic Fit
The acquisition represents a perfect fit with McLarens’ focus on expanding its global footprint in strategic geographic markets and builds on McLarens’ strong existing presence in Australia and the Pacific Islands. CNZ Group and its operating companies will contribute significant scale to McLarens’ loss adjusting and claims management business with added technical expertise, innovative technology, and international CAT management capabilities.
CNZ Group will become a part of McLarens’ global core loss adjusting and claims management services operating under the McLarens brand. The business will continue to be led by Dean Garrod, as Managing Director, McLarens New Zealand, supported by CNZ Group’s current senior staff who will remain in their existing roles.
“At McLarens, we remain committed to providing the highest quality claims management and loss adjusting services to our global clients. Our team constantly seeks to add value either through new specialty service offerings, technology solutions or extending our presence into new attractive markets,” said Gary Brown, Chief Executive Officer of McLarens. “CNZ Group compliments this commitment to our clients and is a perfect fit with our growth strategy. The company has strong leadership and has made significant investments in innovative technology and infrastructure. Their sound reputation is recognized throughout New Zealand and the Pacific Islands, and is associated with quality, innovation, dependability, and the best customer service. We are excited to add the CNZ Group to the McLarens family.”
“We welcome the acquisition and are delighted to join McLarens. McLarens’ keen interest in entrepreneurial spirit and drive for innovative solutions creates the perfect mix as a global partner to help us take CNZ Group to the next level,” added Dean Garrod, CEO at CNZ Group. “Our two companies are incredibly similar in their culture and business approach. Over the past 25 plus years, our talented adjusting and management team has embraced a service led approach and has built a leading loss adjusting and claims management company in New Zealand. We continue to innovate, expand and diversify to deliver for our customers. McLarens has a lot of experience and technical knowledge and a well-documented track record of success, which aligns perfectly with CNZ and its team. The combination of unparalleled expertise and innovative solutions across the claims’ spectrum creates an exciting opportunity to maximize our potential. The entire CNZ team is excited and ready to bring our combined loss adjustment and claims management business under the McLarens brand in New Zealand.”
McLarens purchased 100% of the equity of CNZ Group. Financial terms of the transaction were not disclosed.
McLarens retained Chapman Tripp as their legal advisors, while CNZ Group retained Buddle Findlay as Legal advisors and KPMG Corporate Finance in connection with this transaction.
McLarens Acquires Leading New Zealand Claims Services Company CNZ Group