Quadra specialises in heritage and ecclesiastical buildings, HNW losses and other property claims. The company also owns Quadrassist, a bespoke building contractor network.
The deal is set to give Woodgate and Clark access to complementary services in niche and specialist personal lines, as well as accelerate growth by 20% during the next two to three years.
Following the acquisition, the Quadra brand and offices will remain in situ and the entire 80-strong team, including directors John Carr, Dave Greenwood and Simon Jones, will become part of the bigger group.
Managing director Phil Scarrett said: “This is a great deal for us, and our partners and their customers. Although we will go through some measured integration, this acquisition is about growth through collaboration and new proposition development, rather than cost cutting.
“There will be no job losses as a result of this deal; on the contrary, this is a growth story, and we expect that our added scale will build growth and lead to more recruitment for the business over time.”
He added: “Quadra shares a similar culture to us, especially our commitment to top quality customer service, led by highly experienced loss adjusters, delivering great outcomes for policy holders and insurer clients.
“This deal aligns Quadra’s track record in niche adjusting with our strong heritage in commercial claims, enabling us to bring our propositions to Quadra’s clients and vice versa.”
Quadra director John Carr said: “Woodgate and Clark has the integrity and values we strongly identify with and I am hugely excited by the opportunity to become part of a bigger team.
“We see growth opportunities from increased scale, and the group will deliver additional investment in training the next generation of adjusters, which is a top priority for our industry.”
Scarrett added that Van Ameyde, the parent company of Woodgate and Clark, was “four square behind our strategy and eager for us to expand our product and service footprint in the UK”.
He said: “We have been committed to organic growth since 2015, but at the same time Van Ameyde has encouraged us to seek inorganic growth opportunities where they made strategic sense, and our acquisition of Quadra meets all our priorities.
“There may be additional opportunities for Quadra to partner our parent company in the UK, where they have a number of claims contracts with insurers and fleets.”