Warburg and TorQuest-backed SCM closes second U.S. add-on
Edmonton-based insurance services provider SCM Insurance Services has acquired Affirmative Risk Management (ARM), a Little Rock, Arkansas-based claims settlements company. Terms weren't disclosed. ARM is focused on third-party administration to the Lloyd’s of London marketplace with a specialization in trucking-cargo and liability claims. SCM, which entered the United States last year with its buy of Nixon & Co Inc, said the deal supports further expansion in that market. Founded in 1986, SCM has been backed since 2010 by Canadian private equity firm TorQuest Partners. Last August, TorQuest sold a portion of its stake, facilitating a majority investment by Warburg Pincus.
18 July 2018•3 mins read
