Tue, 20 Mar 2012 | BUSINESS SALE
Insurance building repairs firm LAS Claims Management is set to buy its rival Waylett and Co, in its first business purchase since its own management buy-out in 2010.
LAS provides building repairs to the insurance market in Britain from its base in Birmingham, and has a 120-strong workforce. Founded through Lanes Group Plc in 2006, its founders Darren Cooper and Tim Walker led a management buy-out in April 2010 backed by private equity firm Gresham with an £12.3 million investment.
Bristol-based Waylett and Co specialise in building repair and claims validation advice. Its founder is to stay with the business post-sale for at least one year. Waylett is to remain a separate business for the time being, though will work closely with its new owner LAS.
Waylett and Co’s 30 full time staff and 70 subcontractors will not be affected in the short term. LAS’ first task is to strengthen existing relationships with Waylett’s clients.
Mr Cooper commented on the deal: “Our strategy for LAS is to grow the business without compromising our hard won reputation for innovation and high quality service. Waylett is a quality business that will be an excellent addition to our building claims and validation portfolio.”
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