8th April 2010

Private equity firm Gresham has taken a 70 per cent stake in Eccles-based outsourced claims management and domestic repair services company Lanes Assistance Services (LAS).

The remaining 30 per cent is owned by the management team, including managing director Darren Cooper and commercial director Tim Walker. Gresham acquired its stake from the Leeds-based Lanes Group for £12.3m. LAS has offices in Manchester and Birmingham and handles household claims on behalf of insurance companies.

Cooper said: “Partnering with Gresham will ensure that we are well placed to maximise the wealth of opportunity which exists in the market. The investment will ensure that the high level of customer service LAS provides is maintained as volumes increase and that future growth is managed in a controlled manner. It’s a very exciting time for us.”