Charles Taylor Adjusting’s $14.5 Million Acquisition of FGR


CMS Carey & Allende, CMS Grau Abogados, CMS Rodríguez-Azuero, CMS Cameron McKenna Nabarro Olswang LLP and Cariola, Díez, Pérez-Cotapos advised on the deal


Charles Taylor plc announces that its subsidiaries, Charles Taylor Adjusting Limited and Charles Taylor Holdings B.V., have acquired five of the FGR group of companies (“FGR”) from their shareholders, for a maximum consideration of US$14.5 million. Don Carlos is a claims programme management and loss adjusting business, headquartered in Chile. It employs around 385 people in 17 locations and has a growing presence across Latin America.

FGR reported revenue of US$18.1 million, Adjusted PBT of US$1.21 million and adjusted EBITDA of US$1.51 million in the year to 31 December 2017. The gross assets of FGR were US$9.7 million, as at 31 December 2017. Don Carlos will be consolidated for the remainder of 2018 into Charles Taylor’s accounts for the year ending 31 December 2018. After transaction and integration related costs, the acquisition is not expected to be earnings enhancing in 2018. FGR is expected to be earnings per share (EPS) enhancing in 2019 and subsequent years.

FGR partners, Ignacio Barriga, CEO, Angelo Hettich, Head of Energy, Mining and Construction Risks, Alberto Levy, Head of Legal and Financial Risks and Pedro Vial, Head Property and Aqua Risks, have joined Charles Taylor Adjusting and will be responsible for driving the growth and development of FGR under Charles Taylor’s ownership. Ricardo Sateler, a co-founder of FRG and legal counsel to the business, is expected to take a consultancy role. FGR will be integrated with Charles Taylor Adjusting’s other existing Latin American businesses, which are led by Felipe Ramirez, Managing Director and Regional Head, Latin America.

CMS Carey & Allende advised Charles Taylor Adjusting with a team including Luis Felipe Arze (Picture), Sebastián Barros, Reginald Horn, Rafael Muñoz and Adolfo Romero.

CMS Grau Abogados advised Charles Taylor Adjusting with Raúl Ferreyra, Marco Antonio Ortega, Miguel Viale Leo, José Antonio Onandia and Lucero Carpio.

CMS Rodríguez-Azuero advised Charles Taylor Adjusting with Juan Camilo Rodríguez, Natalia Guerrero and Andrea Zúñiga.

In UK, CMS Cameron McKenna Nabarro Olswang LLP advised advised Charles Taylor Adjusting with Helen Johnson.

Cariola, Díez, Pérez-Cotapos advised Grupo FGR S.A. with Sergio Díez, Francisca Salas, Daniela Tapia, Teresita Melero and Juan Ignacio Alcalde.

Involved fees earner: Juan Camilo Rodríguez – CMS Rodríguez Azuero; Andrea Zúñiga – CMS Rodríguez Azuero; Natalia Guerrero – CMS Rodríguez Azuero; Luis Felipe Arze – CMS Carey & Allende; Sebastián Barros – CMS Carey & Allende; Reginald Horn – CMS Carey & Allende; Adolfo Romero – CMS Carey & Allende; Rafael Muñoz – CMS Carey & Allende; Raúl Ferreyra – CMS Grau Abogados ; Marco Antonio Ortega – CMS Grau Abogados ; Miguel Viale Leo – CMS Grau Abogados ; Jose Antonio Onandia – CMS Grau Abogados ; Sergio Díez – Cariola, Díez, Pérez-Cotapos & Cía Ltda; María Francisca Salas – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Daniela Tapia – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Teresita Melero – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Juan Ignacio Alcalde – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Helen Johnson – CMS Cameron McKenna Nabarro Olswang LLP;

Law Firms: CMS Rodríguez Azuero; CMS Carey & Allende; CMS Grau Abogados ; Cariola, Díez, Pérez-Cotapos & Cía Ltda; CMS Cameron McKenna Nabarro Olswang LLP;

Clients: Charles Taylor Adjusting Ltd; FGR S.A.;

Author: Ambrogio Visconti.