CED Group, the leading emergency response, damage management and repair service provider, has a new owner: BlackFin Capital Partners. Early in December, an agreement in principle was signed with the shareholders. Last Friday, more than 99% of the shares were transferred, and BlackFin Capital Partners is now formally the new shareholder of the CED Group.
The scope of CED's activities has widened positively in recent years with new products and services, also outside the insurance sector, for which technological innovation plays an important role. In 2017, the Dutch shareholders of the CED Group decided that - due to the broadening of CED's services and internationalisation - their interest as shareholders became less relevant. A new shareholder was sought and found in BlackFin Capital Partners. After a careful sale process, including positive advice from the Works Council and the approval of the Supervisory Board, the share transfer finally took place on 23 February - a special and celebratory moment for CED.
Continuing with this positive trend
Hans Coffeng, CED’s Group CEO stated: "BlackFin Capital Partners is a European investment company with focus on the financial sector, which, like CED, believes in further outsourcing and technological development in the banking and insurance business. The change of ownership has no direct consequences for the operational management and employees. CED will continue on its chosen path to retain and protect what is of value to people and businesses : digitally where possible and personally where necessary. The positive development of CED as a company will be continued, with the full support of BlackFin Capital Partners.”
BlackFin will assist CED in further strengthening its position as market leader. Eric May, founding partner of BlackFin Capital Partners added: "We share the vision of an international and innovative claims management company that provides better, faster and more competitive services to insurers and own-risk bearers. The sector is undergoing major changes, and CED has responded well to threse changes by transforming into a fully integrated claims management provider, which we believe will provide a strong competitive advantage in the coming years. We look forward to supporting CED's management and all its employees in the coming years to further strengthen their position of market leader.”