Parabis backs Argent and Carmichaels merger

Parabis Group has acquired a controlling stake in Carmichaels Loss Adjusters.

Paribis said Carmichaels offering will compliment Argent Liability Adjusters, Parabis’ existing niche adjuster specialising in the liability market.

The group said that together the two businesses create a "more comprehensive adjusting offering and establish the platform to become a leading player in both liability and property adjusting markets."

It added the deal also signals its dedication to the specialist loss adjusting market, at a time when some of its competitors are moving towards high-volume claims processing and fulfilment.

Together the two businesses will have a total of more than 100 staff operating from 10 offices across the UK.

Going forward, Neil Ventris, managing director of Argent, will concentrate on overseeing the successful integration of the two businesses; Keith Curling, managing director of Carmichaels, will continue to build on the successes of that operation and Kevin Foakes, recently promoted deputy managing director of Argent Liability Adjusters, will assume day-to-day responsibility for running Argent.

Parabis Group chief executive, Tim Oliver, said: “The Parabis Group has ambitious plans for growth and Argent’s position in the liability market is such that we were able to look at offering a wider range of loss adjusting services.

"We are delighted to be adding another specialist discipline to our extensive portfolio of services to the legal, insurance, travel and related industries. Carmichaels’ reputation for quality and consistent good service delivery means they will be perfectly at home with us.”

Curling added: “We have been keen to expand our services for some time, so when this opportunity came along to join Parabis Group with its depth and breadth of expertise it was an easy decision. It’s an excellent chance to work with like-minded professionals who share Carmichaels’ strong commitment to quality.”

Argent's Ventris said: “It’s always been our plan to diversify and, having built a strong foundation in the liability market, the timing was right.

"The client demand is there and Carmichaels’ specialist expertise now provides us with a platform for further growth. It is a good business with a loyal following. Importantly, there is good chemistry in terms of our shared culture and values. Together Argent and Carmichaels can deliver quality, cross-class specialist property and liability adjusting on a national scale.”