Yarmouth loss-control firm acquires Georgia competitor
Alexander & Schmidt, a Yarmouth-based provider of loss control services for the commercial property and casualty insurance industry, has acquired a competitor in Georgia.
The purchase of Safety Evaluations of America LLC, based in Lawrenceville, Ga., closed Jan. 1, according to a news release. A&S Executive Vice President John Natale refused to disclose terms of the deal, but said it will add 25 customers to the company’s portfolio. The companies' footprints overlap in some parts of the country, he noted.
No staff cuts are planned as a result of the acquisition, and Safety Evaluations will operate as a division of A&S. About 100 field professionals from Safety Evaluations have joined the Maine company, bringing its total field staff to over 600.
The two founders of Safety Evaluations will serve as consultants to A&S, according to Natale.
Alexander & Schmidt President Jim Schmidt said in a news release, “The SEA acquisition provides the pathway for our continued growth and service commitment to our industry partners. The SEA team will work closely with our Alexander & Schmidt team to deliver unmatched technical risk assessments and risk improvement services that support profitable underwriting.”
Alexander & Schmidt was founded in 1986 by Schmidt and Jim Alexander, and today produces over 35,000 loss control reports a year for insurance carriers, brokers, managing general agents and program administrators in all 50 states.
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