other material
confidence high
sentiment positive
materiality 0.65
Crawford updates strategy: edjuster acquisition ($33.1M), net debt $80M, targets 200+ expert hires
CRAWFORD & CO
- Acquired edjuster, contents valuation leader, for $33.1M total ($20.1M upfront cash) in Aug 2021.
- Net debt reduced to $80.3M, pension liability to $44.2M; $260M+ deployed in capital allocation 2016-2020.
- Targeting +200 expert hires in major/complex loss adjusting over three to four years.
- Platform Solutions 1H21 revenue $83.6M, op. margin 16.2%; targeting double-digit growth over 3-5 years.
- M&A strategy to acquire ancillary services, expand U.S. adjusting market, grow in P&C markets.