QuestGates secures new private equity investor

Loss adjusting and claims management firm QuestGates has secured new investment from mid-market private equity company Equistone Partners Europe. 

The investment will support the continuation of the company’s growth strategy, which comprises both organic and acquisitive growth.

The management team at QuestGates, including chief executive Chris Hall, will remain in place following the completion of the investment and will also remain majority shareholders in the business – alongside QuestGates staff.

Equistone director Tristan Manuel and senior partner Dominic Geer will also join the QuestGates board to complement the management team’s loss adjusting sector expertise.

QuestGates was founded in 2003 and is headquartered in Birmingham, but operates from 12 locations across the UK and Ireland. It employs around 500 people and generated revenues of £41m in its most recent full year financial results.

The firm has also completed 18 M&A deals since it was launched in 2003 and is now aiming to target business diversification into specialist claims services. 

Long-term approach 

Commenting on the new investment, Hall said: “Over the 20 years since incorporation, QuestGates has grown to be a leader in the UK loss adjusting and claims sector. 

“We undertook an extensive review to identify a partner who could provide the capital and support that would allow us to maintain our growth and continue investing in innovation and service quality. 

“With its long-term approach, track record of supporting UK financial services businesses and cultural alignment around our focus on our customers and staff, Equistone is the right fit as the partner to support the next phase of our development.” 

London-headquartered Equistone has invested over £11.8bn in 14 financial services business across Europe.

Manuel added: “We are delighted to be partnering with Hall and his team to support the next chapter in QuestGates’ growth. The company has a highly experienced leadership team with strong networks and also boasts a track record of long-term organic growth and successful M&A activity.”