Team One Adjusting Services (“Team One”), a provider of claims adjusting and claims management services, and Southwest Adjusters (“SWA”), a multi-line independent insurance adjustment agency, announced their merger to form the joint venture, Team One Insurance Services. With the financial and strategic backing of Longshore Capital Partners, a private equity firm out of Chicago, this new partnership broadens Team One’s range of services and depth of geographical coverage across the independent claims adjusting landscape. The combination of these organizations brings complementary expertise and the highest dedication to service quality for insurance carriers.
The partnership of Team One and SWA creates a broader platform that will increase its ability to serve insurance carriers throughout the United States, with increased scale, additional corporate resources and an expanded suite of services that includes daily property, catastrophe, desk adjusting, agricultural, specialty losses, appraisal and TPA services. Powered by Touchpoint Claims Management System, Team One is an industry leader in claims technology. This proprietary platform enables faster response and cycle times for insurance carriers, which leads to improved outcomes for policyholders and a more efficient claims management experience. The Company will be headquartered out of Irving, TX, while maintaining office presences in Dickinson, TX and Hot Springs, AR. The combined company will be led by a group of seasoned industry executives including Jeff Keahey and Paul Poncio from SWA, along with Eric Shaw, Jeff Martin and Katrina Flower-Quirk from Team One. As part of the transaction, Jeff Martin and Eric Shaw will remain as part of the ownership group of the combined organization.
“The combination of these businesses gives us a meaningful platform for growth, both for our carrier clients and the employees at Team One and SWA,” said Jeff Martin, Executive Vice President. “Longshore’s backing enables us to scale more quickly and efficiently than before and provides us with ample resources to continue to build our team. We are eagerly adding additional highly accomplished professionals as we further our pursuit of building the industry’s premier claims management organization.”
Eric Shaw, President, added, “Team One has spent years developing the Touchpoint suite of software products. This technology has been developed by claims professionals, for claims professionals and allows us to serve insurance carriers better than the competitors in our peer group. With Touchpoint, SWA’s existing clients will benefit from the increased transparency, reduced cycle times and enhanced reporting capabilities that Team One’s clients have come to expect. Going forward, the current and future customers of the combined organization will continue to benefit from the technological excellence that Team One offers.”
“Our mission has always centered around providing a leading level of service to our insurance carrier partners. By combining with Team One, we are now able to offer enhanced geographical depth and a more holistic suite of claims services under one brand,” says former SWA CEO now Team One CEO, Jeff Keahey. “We believe our combined offerings will allow us to serve our current and future clients in a greater capacity, offering them additional services, resources and a better technology platform to more quickly and efficiently close claims for their policyholders.”
Katrina Flower-Quirk, Sr. Vice President, added, “As we move forward in this strategic partnership, Team One will be providing additional opportunities to our field adjusters as well as adding a host of talented insurance professionals to our Quality Assurance and Management team. We are all very excited about the opportunities that greater infrastructure, scalability, and growth will offer our organization. Additionally, this strategic move greatly enhances and expands the range of enhancements that our client base will experience both in quality of service and overall logistics.”
“Team One is truly a unique asset in the independent insurance claims adjusters and claims management space,” says Longshore partner Ryan Anthony. “It boasts a compelling competitive advantage through its robust and proprietary technology platform, aligning seamlessly with our vision of helping innovative companies in growing and fragmented industries achieve scale.”
Waller Helms Advisors served as financial advisor to Longshore Capital Partners and Southwest Adjusters.
If you have questions regarding this transaction or would like to discuss other business services-related opportunities, please contact Ryan Anthony or Nick Christopher of Longshore at (312) 237-3838.
About Longshore Capital Partners
Longshore Capital Partners is a middle-market private equity manager investing out of its inaugural $210 million fund. Longshore acquires control positions in services businesses in North America with $5 to $15 million of EBITDA. The firm has extensive experience partnering with founders and management teams in the lower middle-market and executes a systematic approach to creating shareholder value through a cooperative strategic plan.
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