VeriClaim, A Portfolio Company Of Silver Oak Services Partners, Completes Add-On Acquisition

Feb. 01, 2010 -Portfolio Company News

vrsVeriClaim, Inc., a portfolio company of Silver Oak Services Partners, LLC, announced that it has completed the acquisition of Hartford, Connecticut-based Eastland Claims Service, Inc. (“Eastland”).

Eastland is one of the leading independent outsourced property and casualty claims providers in the Northeastern United States. Founded in 1984, the company has been a leader in handling commercial and residential property and casualty claims for 25 years. The company provides multi-line claims services throughout Connecticut, Massachusetts, and Rhode Island. Eastland’s founders, who have been instrumental to the Company’s success, will remain actively involved and will work to accelerate the execution of vrsVeriClaim’s middle market and casualty expansion strategy in the Northeast.

“We are excited to partner with Eastland’s management team and capitalize on the company’s significant growth opportunities. Eastland will provide a strong platform for expanding our business in the Northeastern U.S.” says vrsVeriClaim CEO Mike Arbour.

Silver Oak and management continue to build the vrsVeriClaim platform into a leading claims services company with a focus on property, marine, and casualty claims businesses. The company has completed four acquisitions since its partnership with Silver Oak and is continuing to pursue addon acquisitions of complementary claims services businesses. vrsVeriClaim, which includes the Toplis & Harding brand name, has a strong reputation in the marketplace and long-standing relationships with nearly all leading commercial insurance underwriters and brokers as well as a majority of Fortune 500 companies.

Please contact Mike Arbour of vrsVeriClaim or Greg Barr or Jeff Mann of Silver Oak for additional information.

Silver Oak Services Partners, LLC, whose principals have more than 50 years of collective private equity experience, invests in business, consumer and healthcare services companies in the lower middle market, typically with revenue between $15 million to $150 million