LAS

Sector: Financial Services

Deal type: MBO

Date: April '10

Deal size: £12.3m

Partnering with Gresham will ensure that we are well placed to maximise the wealth of opportunity which exists in the market. The investment will ensure that the high level of customer service LAS provides is maintained as volume increases and that future growth is managed in a controlled manner. It’s a very exciting time for us.

Darren Cooper
LAS

Investment Overview

With offices in Manchester and Birmingham, LAS provides a market leading outsourced claims management service for the insurance industry. LAS’ clients include a number of top UK insurers.

Why we liked it

With insurers increasingly focused on controlling claims costs, there has been a strong trend towards outsourcing claims management services in recent years in order to reduce costs and reduce the claim cycle. With a market leading technology platform and a strong reputation for providing customer service, LAS is well positioned to grow organically through expanding its client base and through acquisition.

How are we helping?

This is Gresham's third insurance related investment in five years. Through our industry credentials, we will assist management in their growth plans for the business.

Gresham provided 100% of the funding to complete the transaction. The investment will be used to support LAS’ growth by enhancing its operational infrastructure, expanding its service offering and strengthening the senior management team.