Cornell Capital Acquires Hancock Claims Consultants

Business Wire

Investment to Support Next Phase of Growth for Leading National Provider of Outsourced Claims Field Services to Residential Property & Casualty Insurers

NEW YORK & ALPHARETTA, Ga.--(BUSINESS WIRE)--
Cornell Capital LLC (“Cornell Capital” or the “firm”), a U.S.-based private investment firm with offices in New York and Hong Kong, today announced that it has acquired Hancock Claims Consultants (“Hancock” or the “Company”), one of the nation’s leading providers of outsourced claims field services to residential property and casualty (“P&C”) insurance carriers. Terms of the transaction were not disclosed.

Founded in 2003 and headquartered in Alpharetta, Georgia, Hancock is a leading national platform dedicated to residential P&C claims field services, operating across 48 states through a network of more than 1,000 field technicians. The Company serves the industry’s largest homeowners carriers, helping insurers reduce claim cycle times, manage loss adjustment expense, and deliver a better experience for policyholders. Hancock’s offerings span exterior and interior inspections, contents valuation, estimating, and the Hancock Repair Network, which provides managed repair, water mitigation, tree removal, and engineering services.

The acquisition of Hancock reflects Cornell Capital’s disciplined approach to investing behind category leaders in the financial services sector and builds on the firm’s deep experience across the insurance ecosystem and tech-enabled outsourced services. Cornell Capital will support Hancock’s continued growth through investment in the Company’s proprietary technology platform as well as the expansion of adjacent service lines and the pursuit of strategic add-on acquisitions across the claims services ecosystem.

“We have followed the outsourced claims services space closely for years and Hancock stands out as a clear category leader with meaningful opportunities to grow, both organically and through acquisition. We are excited to partner with the talented Hancock team to invest in the technology, services, and people that will define the Company’s next chapter,” said Emily Pollack, Partner and Head of Financial Services at Cornell Capital.

“Hancock has earned a reputation among the nation’s leading carriers as a trusted, best-in-class partner, built on the strength of its people, its national technician network, and its consistent quality of service. We look forward to furthering this strong foundation in this next phase for the business,” said Taylor Watt, Managing Director at Cornell Capital.

“This partnership is a testament to what the Hancock team and our technician network have built over more than two decades,” said Brad Hancock, Founder and Chairman of Hancock Claims Consultants. “Cornell Capital shares our commitment to our carrier partners and to the policyholders they serve, and brings the resources, relationships, and experience to help us expand what we can offer. I’m proud to remain invested in the Company and excited about the road ahead.”

Piper Sandler and Baird served as financial advisors and Kirkland & Ellis LLP served as legal counsel to Hancock. William Blair served as financial advisor and Davis Polk & Wardwell LLP served as legal counsel to Cornell Capital.

About Hancock Claims Consultants

Hancock Claims Consultants is a leading national provider of outsourced claims field services to residential property and casualty insurance carriers. Founded in 2003 and headquartered in Alpharetta, Georgia, Hancock operates across 48 states through a network of more than 1,000 field technicians, providing exterior and interior inspections, contents valuation, estimating, and repair network services that help carriers resolve claims quickly, accurately, and with a superior policyholder experience. For more information, visit www.hancockclaims.com.

About Cornell Capital

Cornell Capital is a U.S.-based private investment firm with approximately $5 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the industrials, business services, financial services, and consumer sectors, often in companies that can benefit from the firm’s Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs’ Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience. For more information, visit www.cornellcapllc.com.