Quindell completes AI Claims takeover

QUINDELL Portfolio, the AIM-listed outsourcing group, has announced it is to buyout the remaining shareholders of Ai Claims Solutions, of which it owns more than 90%, and that the company will leave AIM on June 22.

In April Quindell acquired 47% of Blackpoll-based Ai’s shares for £3.1m, taking its ownership to more than 77%, and it has since bought remaining shares, taking its ownership to over 90%

Quindell first took a 30% stake in Ai Clams in January. For the year ended 30 June 2011, the businesss made profits of £2.7m and in the six months to 31 December 2011, it made profits of around £900,000.

As well as buying Ai Claims, Quindell has recently acquired Liverpool-based personal injury law firm Silverbeck Rymer.