Business Moves
EagleView, Pictometry
EagleView Technologies, a provider of automated 3D measurement technologies and analysis and Pictometry International, a geo-referenced aerial image capture and visual-centric data analytics company, jointly announced a merger agreement.
The merger creates one global company offering comprehensive capabilities in aerial imagery collections, geospatial analytics and 3D measurement technologies to both government and commercial customers. The company will operate with offices in Bothell, Wash. and Rochester, N.Y., while also maintaining satellite offices in other locations.
Chris Barrow, EagleView’s chief executive officer, will lead the management team of the combined company as its president and CEO, while Pictometry’s CEO, Rick Hurwitz, will exit the business having worked closely with both companies in support of this transaction.
The two companies have combined pro forma revenues of more than $100 million for calendar year 2012 and have experienced significant historical growth.
Under the terms of the merger agreement, EagleView and Pictometry merged in a stock-for-stock merger-of-equals transaction pursuant to which both EagleView and Pictometry became wholly owned subsidiaries of a new entity.
Braemar Adjusting
Braemar Adjusting has opened a dedicated loss adjusting operation in Dubai.
Effective April 1, 2013, Chris Eades, regional director for the Middle East, and senior adjuster Sam Foster, will start working from the Dubai World Trade Centre Building offices of sister company Braemar Salvage Association, before moving into their own Braemar Adjusting offices later in the year.
Caliber Collision Centers
Caliber Collision Centers acquired Hi-Tech Collision and Glass Centers.
Hi-Tech Collision and Glass Centers has 10 locations in the Los Angeles and Orange County markets.
CARSTAR
CARSTAR Auto Body Repair Experts, a national multi-shop operator network, opened three new locations.
Owned by Mark Riney, Autobody Denton CARSTAR is located at 820 E. McKinney Street in Denton, Texas. The shop, open since 1977, offers collision repair, vehicle restoration and customization, glass repair and storm and hail damage repair.
Expansion in Wisconsin led to the opening of a satellite facility for Utzig CARSTAR Collision Service in Milton, Wis. Owned by Al Utzig, the shop, located at 635 Greenman Street, will serve as a satellite facility to handle repairs for vehicle owners in that community.
The opening of Complete Collision CARSTAR, located at 34627 16th Avenue South in Federal Way, adds another location in Washington.
It is the third location for owner Jeff Middleton, who also own Exhibition Automotive CARSTAR in Kent and Ballard Collision CARSTAR in Seattle.
AmTrust
New York-based AmTrust Financial Services announced that it has entered into an agreement, pending regulatory approval, to acquire Sequoia Insurance Co. and its subsidiaries, Sequoia Indemnity Co. and Personal Express Insurance Co., for approximately $60 million.
Sequoia offers a variety of low hazard, property/casualty insurance products including workers’ compensation and commercial package insurance to small businesses in key western states. In 2012, Sequoia wrote gross written premium of approximately $140 million.