Lovell Minnick Partners, a private equity firm specialising in financial and related business services companies, is to sell JS Held, a global consulting firm focused on the construction industry and insurance claim management, to private equity firm Kelso & Co.
Financial terms of the private transaction have not been disclosed.
“It has been our pleasure to partner with Jon Held and his team over the past four years as the Company significantly expanded its practice areas, geographic coverage and consultant base,” says Robert Belke, a Managing Partner at Lovell Minnick Partners. “With a robust and growing platform, and a strong track record of acquisitions, JS Held is now the acquirer of choice in the industry and has done a remarkable job institutionalising an integration process that is proven and repeatable,” adds Jason Barg, a Partner at Lovell Minnick Partners.
Founded in 1974, JS Held is the global leader in providing specialised consulting services to address complex and high value insurance claims and construction-related matters. JS Held’s growth has included 18 acquisitions and expansion to over 600 professionals in more than 60 offices across the US, Canada, Latin America, Europe, and the Middle East.
“Our mission for the last 40 years has been to provide the best service to our clients and to support the continued professional growth of our people,” says Jon Held, Chief Executive Officer of J.S. Held. “We are committed to connecting our clients with subject matter experts so they can solve the strategic and tactical business challenges they face every day. Lovell Minnick has played an instrumental role in helping us think strategically about our growth opportunities, and we look forward to our partnership with Kelso which will allow us to continue to add resources to our team, expand solutions to new verticals, and continue our growth on a global scale.”
“We are thrilled to partner with Jon and his team. JS Held’s leadership position in the insurance industry is a testament to the world-class expertise and unparalleled client service demonstrated by the consulting team,” says Chris Collins, Managing Director of Kelso.
“We look forward to supporting the JS Held team as they accelerate their strategic plan to offer best-in-class solutions to an expanded client base spanning new vertical and global markets,” adds Steve Dutton, Managing Director of Kelso.
The transaction is expected to close in the third quarter of 2019 and is subject to customary closing conditions. William Blair & Company and Morgan, Lewis & Bockius LLP advised Lovell Minnick and JS Held in connection with the transaction. Debevoise & Plimpton LLP advised Kelso in connection with the transaction.
