HAMMOND, LA - (May 19, 2008) - Worley Catastrophe Response, LLC announced today the completion of an investment by an investor group led by Seaport Capital, a private equity firm focused on the communications, information and business services, and the media sectors.
Founded in 1976, Worley Catastrophe Response is a leading provider of catastrophe management services and outsourced adjustment services to insurance and self-insured companies. The company provides catastrophe managers, loss adjustment specialists, IT infrastructure support, and call center management to clients overwhelmed by case loads. Worley has assisted in nearly every major natural and environmental disaster over the last 20 years, including every U.S. hurricane landfall since Hurricane Andrew in 1992.
"We look forward to taking the company to the next level with our new investment partners," said Worley Catastrophe Response CEO, Michael Worley. "We're excited to have financial partners who share our vision and objectives. We are pleased with Seaport's and Advantage's trust and investment in the company."
Seaport Capital Partner Bill Luby said, "We have been impressed with the Worley team since we met them. In recent years, the company developed its own proprietary claims management system and constructed a new 20,000 square foot training facility that will position the company to grow for years to come. We look forward to partnering in the company's continued success."
About Seaport Capital
Seaport Capital provides mezzanine and equity capital to middle market companies in the communications, information and business services, and media sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport is a long-term investor focused on generating high investment multiples for its investment partners and portfolio company management teams. Seaport's substantial industry expertise and extensive investing experience enables it to develop winning strategies; its relationship and resources help achieve them.