BV buys loss adjuster

French class society Bureau Veritas (BV) has expanded into the offshore loss adjusting and risk assessment sector with its latest takeover.

The company said it has bought MatthewsDaniel (MD), based in London.

MD employs more than 150 people and reported revenue of EUR 34m ($44.7m) in 2013.

It provides services for the insurance market, including incident investigations, root cause analysis, damage and reinstatement assessment and cost estimation, specialising in drilling units.

Didier Michaud-Daniel, CEO of BV, said: “The acquisition of MatthewsDaniel represents a major development for our Marine & Offshore business. It will diversify our services and help us grow our presence in the offshore industry where we provide very high added value services.”