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— Acquisition Positions Solera as
the Only Global Claims Services Provider —
SAN DIEGO, Calif. — April
13, 2006 — Solera, Inc., a provider of technology solutions,
shared services and consulting for the insurance and claims industries,
and GTCR Golder Rauner, one of the nation's leading private equity
firms, today announced that they have completed the acquisition
of the Claims Services Group (CSG) from Automatic Data Processing,
Inc. (NYSE:ADP) for $975 million in cash. In the deal, Solera acquired
operating companies that employ over 2,000 associates in 31 countries,
generate over $410 million in annual revenue, and have a global
network of over 50,000 customers.
“Solera is the only global provider of claims
solutions,” said Tony Aquila, Founder and CEO. “Our
market leadership position, coupled with our associates’ unequaled
industry expertise, enables Solera to now deliver a unique offering
of technology, consulting and shared services.”
Aquila continued, “Solera’s global
presence, supported by rigorous data analytics and our Six Sigma
process discipline, enables us to identify successful processes
from around the globe and to tailor them to benefit our customers
in other Solera local markets.”
“We invest over 50 percent more in product
development than our nearest competitor. We are committed to extending
our position as the global innovation leader in the insurance and
claims industries,” concluded Aquila.
Solera provides a complete range of technology
solutions, shared services and consulting for the insurance and
claims industries. The company's unique approach to the market focuses
on optimizing customer satisfaction and on improving claims process
efficiency. Solera enables carriers to delight their customers by
shortening cycle times, reducing loss adjustment expense, and improving
control.
"We are very excited by the opportunities
this acquisition creates," commented Philip A. Canfield, GTCR
Principal. "We believe that Tony and the combined team have
the vision, industry expertise, and passion to create unequaled
value for Solera’s customers throughout the globe."
“The closing of the acquisition of the Claims
Services Group from ADP represents the end of a long process for
Solera and GTCR, and the beginning of a new and exciting chapter
for this market-leading franchise,” stated GTCR Principal
Craig Bondy. “The transaction has been extremely well received
by customers, employees, and financial partners. We see outstanding
opportunity in the future for Solera.”
The Solera companies include Audatex in the U.S.,
Canada, and in 26 additional international markets, Informex in
Belgium, Sidexa in France, ABZ in The Netherlands, and Hollander
serving the U.S. recycling market.
About Solera, Inc.
Solera offers the claims industry's most comprehensive, integrated
suite of applications and outsourced services to streamline the
entire claims process and improve customer service. We provide outsourced
claims processing, solutions for estimatics and shop management,
and consulting services. All of our products and services are backed
by the most experienced professionals in the industry. We apply
the proven practices of Six Sigma total quality management and rigorous
data analytics to both our internal processes and in developing
customized solutions for our customers. We enable carriers to dramatically
reduce deviations from their established guidelines, measurably
reducing the cost of each claim. For more information, visit www.solerainc.com.
About GTCR Golder Rauner LLC
Founded in 1980, GTCR Golder Rauner LLC is a leading private
equity investment firm and long-term strategic partner for outstanding
management teams. The Chicago-based firm pioneered the investment
strategy of identifying and partnering with exceptional executives
to acquire and build companies through a combination of acquisitions
and strong internal growth. GTCR currently manages more than $6
billion of equity capital invested in a wide range of companies
and industries. More information can be found at www.gtcr.com.
— ### —
Press Contact:
Paul Gange
Audatex
858-946-1751
Paul.Gange@audatex.com
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