Sale follows Aquilo's de-listing last week
Rok, the building, maintenance and development company, has today acquired the trade and certain assets of Aquilo Inspection and Reinstatement Services (AIRS) for £2.1m
AIRS provides an integrated service to insurance companies for the management of building damage claims, which includes property inspections, claims management and managed repairs. AIRS will be integrated into Rok’s Maintenance operations.
Commenting on the acquisition, Garvis Snook, Chief Executive of Rok, said: “We are delighted that we have been able to secure the future of the business of AIRS which will enable Rok to provide a significantly enhanced service to the insurance market. In addition clients of AIRS will be able to benefit from the Rok Maintenance model of using our own directly employed technicians for the work we do.”
Clive Nicholls of Aquilo commented: “I believe that Rok’s acquisition of AIRS will enable the business to develop from a strong financial platform and myself, Arthur Rackstraw and the team at AIRS are looking forward to continued growth and exceeding our clients’ expectations for service delivery.
“AIRS has achieved steady growth since its launch in October 2006 as Insurers have recognised the cost savings and policyholder satisfaction achievable through the AIRS’ approach of defined separation between validation and fulfillment of supply.”
Rok operates from a network of offices across the UK, using teams who live and work in their local communities. Its response maintenance service provides building and repair work for the policy holders of a number of leading insurers. Several of these insurance companies have given Rok Delegated Authority for their claims.
Aquilo de-listed from AIM last week.
