Crawford acquires Praxis Consulting for $55.5M to expand subrogation services

CRAWFORD & CO

Deal value $55.5M: $25.5M cash at closing, $20M Jan 2022, plus $10M earnout over two years.
Praxis is a leading U.S. subrogation claims management provider, founded 1997, with proprietary data analytics.
Acquisition adds specialist capability in the growing U.S. subrogation market, strengthens Crawford's platform.
Crawford expects to leverage Praxis's long-term client relationships and proven recovery results.
Transaction closed October 4, 2021; funded from cash on hand.

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