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Letter to the Editor
Wednesday February 2
ABS Acquisition Completed by Aquilo plc in UK
ABS, one of the UK’s largest collision repair networks, has now been acquired by the insurance claims management group Aquilo plc.The purchase was formally completed on January 31. On January 26, Aquilo's offer for the repairer network had closed with acceptance by holders of 97.8 per cent of ABS shares.
The new organization created by the purchase is thought to be unique in the motor and insurance industries, with the ability to handle outsourced claims management and vehicle repair, or any element of the processes involved, completely in-house.
Clive Nicholls, Chief Executive of Aquilo plc, said, "The experience and expertise of all our 240 repairers will be a crucial element in the future of the company and we intend to build into our new structure a number of ways to ensure that their views can be clearly heard and their questions answered."
Alan Hodgkinson becomes the Managing Director of Aquilo’s motor services business, of which ABS is the key component. Under the new structure, Alan Hodgkinson and Derek Swann, formerly ABS Chairman, become members of the Aquilo plc board. No redundancies are expected at ABS as part of the acquisition.
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