M&A Deal Summary

Crawford Acquires Broadspire Services

On August 21, 2006, Crawford acquired business services company Broadspire Services from Platinum Equity for 150M USD

Acquisition Highlights
  • This is Crawford’s 2nd transaction in the Business Services sector.
  • This is Crawford’s largest (disclosed) transaction.
  • This is Crawford’s 2nd transaction in the United States.
  • This is Crawford’s 1st transaction in Florida.

M&A Deal Summary
Date 2006-08-21
Target Broadspire Services
Sector Business Services
Buyer(s) Crawford
Sellers(s) Platinum Equity
Deal Type Add-on Acquisition
Deal Value 150M USD

Target

Broadspire Services

Plantation, Florida, United States
website
Broadspire offers a broad array of customized casualty, medical management and integrated disability management services designed to increase employee productivity and contain costs. The services Broadspire offers include workers' compensation, auto and general liability claims management; medical and field care management, either integrated with casualty services or available on an unbundled basis; integrated workers' compensation and disability management programs. Broadspire is based in Plantation, Florida, a suburb of Ft. Lauderdale, with 1,800 employees throughout the United States.

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Buyer(S) 1

Buyer

Crawford

Atlanta, Georgia, United States

website

Category Company
Founded 1941
Sector Insurance
Employees9,820
Revenue 1.2B USD (2022)
DESCRIPTION

Crawford is an independent provider of claims management solutions to insurance companies and self-insured entities with a global network. Crawford was incorporated in 1941 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 2 of 12
Sector (Business Services) 2 of 4
Type (Add-on Acquisition) 2 of 11
State (Florida) 1 of 1
Country (United States) 2 of 6
Year (2006) 1 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-11 The Garden City Group

Lake Success, New York, United States

The Garden City Group, Inc. is a provider for class action settlement administrations, restructuring and bankruptcy matters, mass tort settlement programs, regulatory settlements, and data breach response programs in the United States and internationally. The Garden City Group, Inc. was founded in 1984 and is based in Lake Success, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-24 Specialist Liability Services

Leeds, United Kingdom

Specialist Liability Services Ltd. is a U.K.-based adjusting and claims handling firm.

Buy -

Seller(S) 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 3 of 77
Sector (Business Services) 2 of 7
Type (Add-on Acquisition) 2 of 39
State (Florida) 1 of 3
Country (United States) 2 of 64
Year (2006) 2 of 2
Size (of disclosed) 16 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 Nextiraone Mexico S.A. de C.V.

Mexico

Nextiraone Mexico S.A. de C.V. provides planning, implementation, support and management services of voice, data and converged communications networks in Mexico.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 OVISO

Concord, California, United States

OVISO Manufacturing is a manufacturing service company that provides highly machined components, complex assemblies and replacement parts for a diverse array of industrial markets.

Buy -
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