Carousel Capital announced today that it has partnered with management to recapitalize Consolidated Claims Group (“CCG” or the “Company”), a networked provider of claims processing technology and specialty claims investigation services to property and casualty insurance companies. Based in Charlotte, North Carolina, CCG services the HVAC and electronics claims investigation marketplace for insurance carriers throughout the U.S. The Company conducts business through its HVAC Investigators and StrikeCheck brand names.
Founded in 2011 with the goal of making the process of investigating HVAC and electronics claims more accurate and efficient, CCG offers its insurance carrier customers a complete suite of claim investigation tools executed through its technology platform and networked operating model deploying independent technicians. The Company’s one of a kind technology platform serves as a common connection point between insurance carriers, claims adjusters and HVAC and electronics technicians nationally and its highly skilled claims operations team. Most importantly the CCG network allows insurance partners to become more efficient while enhancing the customer service experience for policyholders.
In addition, CCG’s expertise and data analytics capabilities are enhanced with each claim processed through its platform as it houses the largest centralized claims data repository of its kind. This information enables continuous improvement and industry leading educational tools which have become widely relied upon. Through the use of this information, CCG is recognized as a national thought leader.
“We are excited to partner with the highly successful management team of Consolidated Claims Group to help them continue the rapid growth they have enjoyed,” said Jason C. Schmidly, a Managing Partner of Carousel Capital. “CCG’s networked approach to a complex process while delivering transparency and higher satisfaction for multiple constituents attracted us to this incredible story.”
“We chose Carousel as our partner as a result of their proven track record of supporting and accelerating the growth of technology-enabled service providers,” said Damon Stafford, CEO and Co-Founder of CCG. “We were also very focused on finding the right partner culturally as our team continues to be a significant owner of the business and were very compelled by their reputation for deeply partnering with management teams.”
“Carousel’s investment and support will enable us to broaden our capabilities and enhance our technology platform, as we continue to provide best-in-class solutions to make the claims investigation process better for our insurance partners and every constituent involved,” said Matt Livingston, President and Co-Founder of CCG. “Our culture and mission of building our business to alleviate pain points in the industry won’t change as we found a like-minded partner in Carousel.
Carousel Capital funded the transaction with equity from its fifth investment fund, Carousel Capital Partners V, L.P. Senior debt financing was provided by Freeport Financial Partners.
Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States and has received commitments of more than $1.2 Billion in capital across its funds. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs across the region. Since its inception, Carousel has invested in 37 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.
