LAS lays claim to Bristol rival’s business
BIRMINGHAM-based LAS Claims Management, the insurance building repairs business, has agreed to buy Bristol rival Waylett and Co for an undisclosed sum.
LAS, which employs 120 people at its Hagley Road headquarters, was founded in 2006 through Lanes Group Plc to provide building repairs to the UK insurance market. In April 2010, founders Darren Cooper and Tim Walker led a management buyout backed by a £12.3m investment by private equity firm Gresham.
Waylett and Co provides UK-wide building repair and claims validation advice. Its founder Peter Waylett will remain with the newly acquired business for at least the next 12 months.
Cooper said: “We have made it clear that our strategy for LAS is to grow the business without compromising our hard won reputation for innovation and high quality service. Waylett is a quality business that will be an excellent addition to our building claims and validation portfolio.”
He said that although Waylett will work closely alongside LAS, it will remain an independent entity for the foreseeable future, and he added that there will be no immediate impact on the company’s 30 full time staff and 70 subcontractors.
He added: “We don’t want to be the UK’s biggest service provider within the building claims management sector, but we do want to be the best, and we are confident the acquisition of Waylett takes us another step towards meeting our longer term strategic aims.”
Cooper said the first priority will be to build on existing relationships with Waylett clients.
