ROSELAND, NC — Automatic Data Processing (ADP) is selling its Claims Services Business (CSB) to Solera Inc. for $975 million in cash. Solera was formed by Tony Aquila, in partnership with GTCR Golder Rauner, one of the nation’s leading private equity firms with more than $6 billion of committed capital.
“We view this deal as the critical first step in achieving our long-term objective of enabling our customers to increase their operational visibility and profitability through the use of better data analytics throughout the claims process,” said Aquila, CEO of Solera.
“The ADP Claims Services Group represents the premium franchise in the industry with the largest global reach,” said GTCR Principal Craig Bondy. “It serves as the ideal platform for an integrated set of technology solutions and outsourced services, all designed to drive greater value and improved efficiencies for all participants in the claims process.”
The transaction, which represents the largest acquisition in the automotive claims solutions industry to date, is subject to regulatory review and is expected to close within 90 days.
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