News

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Silver Oak Services Partners Acquires Insurance Claims Services Provider

Dec. 01, 2006 -Portfolio Company News

Silver Oak Services Partners, LLC announced that it has led a leveraged recapitalization of Naperville, Illinois-based VeriClaim, Inc. in partnership with the company’s management.

VeriClaim, founded in 1918, is a global leader in commercial property, casualty and marine insurance adjusting, cargo surveying, and recovery services. VeriClaim provides outsourced insurance claims services along three primary lines of business: commercial property claims adjusting, marine cargo claims services and claims management services. Customers include leading insurance underwriters, insurance brokers and corporations. VeriClaim specializes in large, complex commercial losses for multi-national accounts.

Silver Oak and management intend to build VeriClaim into a leading claims services company with a focus on property, marine and casualty claims business. The company, which includes the Toplis & Harding brand name, has a strong reputation in the marketplace and long-standing relationships with nearly all leading insurance underwriters and brokers as well as a majority of Fortune 500 companies. VeriClaim specializes in large, complex commercial losses for multinational accounts. In pursuing its growth strategy, VeriClaim is also actively looking for add-on acquisitions of complementary claims services businesses. “We are very excited to partner with the management team of VeriClaim and build on the company’s leading position in the insurance claims services market. We believe the company has significant growth potential as it leverages its extensive customer relationships and industry expertise,” said Greg Barr, managing partner of Silver Oak.

Please contact Greg Barr or Jeff Mann of Silver Oak for additional information.

VeriClaim is the first portfolio investment of Silver Oak Services Partners, LLC, whose principals have more than 50 years of collective private equity experience. Silver Oak invests in business, consumer and healthcare services companies in the lower middle market, typically with revenue between $15 million to $150 million.