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Private equity-backed QuestGates, the UK's largest independent loss adjusting and claims solutions group, has continued its recent M&A drive by acquiring insurance peer Brownsword Group.
Founded in 1994, Manchester-based Brownsword has built a strong reputation within the insurance industry, offering compliant intelligence solutions to insurers, providing a range of specialist services including surveillance, motor fraud, death claims and theft investigations, using a combination of advanced technology and traditional investigative techniques.
Birmingham-based QuestGates, founded in 2003 and employing around 500 people, said the Brownsword acquisition would expand its ability to offer full-service claims-related solutions to its clients across the UK and Ireland.
Brownsword will continue to operate under its existing brand, benefiting immediately from the broader resources of QuestGates.
This acquisition follows QuestGates' recent purchases, including Toppings Forensic Accountants last October, QCH Legal (now rebranded as QGLaw) in September, and its consolidated Building Consultancy Services, formed from the acquisition of Structural Surveys, Ramsay McMichael Consulting and BTA.
Its expansion drive has been helped by securing investment from mid-market private equity firm Equistone last September.
This group investment and expansion, as well as movement into the 'high-volume claims handling arena' and high levels of customer and technical service, has helped QuestGates hit a turnover of £40.9 million in the year to 30 June 2024, up from £32.7 million the year before.
Pre-tax profit, however, for the same period slipped to £3.1 million from £3.3 million.
Chris Hall, Chief Executive of QuestGates, said: "We are delighted to welcome everyone at the Brownsword Group to the QuestGates family. Their niche, specialist expertise complements our existing third-party services and strengthens our capabilities in the insurance sector. This acquisition significantly increases QuestGates' market share in the third-party investigations space and continues to cement our position as the go-to claims solutions group in the UK and Ireland."
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