Solera, GTCR to Purchase Claims Services Group from ADP
Solera Inc., a provider of consulting, outsourced services, and strategic technology solutions focused on the claims process, reported a definitive agreement to acquire Automatic Data Processing Inc.’s Claims Services Group (CSG), for $975 million in cash.
CSG is a provider of automotive claims solutions. Solera was formed by Tony Aquila, in partnership with GTCR Golder Rauner, one of the nation’s leading private equity firms with more than $6 billion of committed capital.
CSG’s products cover all touch points from the time of an automobile accident to the resolution of associated claims. Its technology, products and services help insurance carriers, collision repair shops, and automotive recyclers automate their core business processes, streamline their workflows with industry partners, and manage and optimize their performance.
The transaction, which represents the largest acquisition in the automotive claims solutions industry to date, is subject to regulatory review and is expected to close within 90 days.
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