Direct Group expands further with EVS deal

27/05/2010 09:00:00 by Marketing

Insurance services provider Direct Group, backed by Lloyds Development Capital, has completed the acquisition of Evander Validation Services for an undisclosed sum.

Preston-based EVS is one of three companies in the Evander Group bought from Homeserve in an LDC-funded transaction last September.

Following the latest deal, EVS managing director Colin Jones will continue to lead the division, which provides contents validation and fulfilment services.

It is the latest step in Direct Group's continued expansion which, since it was backed by LDC in 2007, has seen it acquire businesses including Millennium Insurance, a provider of general insurance solutions to the mortgage broker and independent financial adviser market.

The acquisition of EVS also widens Direct Group's portfolio, which includes outsourced insurance administration, claims handling and fulfilment; with products and services spanning property, protection, motor and travel.

Derek Coles, Direct Group chief executive, said: "We have rapidly grown our property and travel claims propositions and the EVS model complements both these areas. This move marks another significant step towards Direct Group's core strategy of delivering wider insurance solutions to our partners."

Mr Jones added: "Direct Group has been actively seeking a route into EVS' space and it became clear that a deal would be a strong cultural and strategic fit for both businesses."

Jonathan Simpson-Dent, Evander Group CEO, concluded: "Direct Group is uniquely positioned to take EVS to the next level and I am confident that this move will be beneficial for our customers and employees."

http://www.postonline.co.uk/post/news/1650505/direct-group-expands-evs-deal