Business Moves

June 24, 2013

Copart, Salvage Parent

Copart, a global online vehicle auction company, acquired Salvage Parent Inc., which conducts business primarily as Quad City Salvage Auction, Crashed Toys, and Desert View Auto Auction. Combined the businesses operate at 39 locations in 14 states.

Quad City operates 23 facilities in 10 states, primarily in the north-central and northeast U.S., and stores, processes and auctions predominantly salvaged cars on behalf of the insurance industry. Crashed Toys operates 10 facilities in six states, primarily in the north-central U.S., and stores, processes and auctions salvaged motorcycles, boats, jet skis and other power sport crafts. Desert View operates six California facilities and stores, processes and auctions charity cars.

Southport Lane, Imperial Fire & Casualty

Southport Lane, a New York City-based private equity firm, completed its acquisition of Louisiana-based Imperial Management Corp. along with its largest subsidiary, Imperial Fire & Casualty, in an all-cash transaction. Additional terms of the transaction were not disclosed.

Imperial Fire & Casualty provides personal auto, commercial auto, personal property and flood policies.

Imperial Fire & Casualty has been led by H. Marcus Carter Jr., president/CEO, and John Emmett Brignac Jr., chairman, of Imperial Management Corp., both of whom will continue to serve as directors.

Symbility, Donan

Donan, a nationwide forensic investigation firm, has signed a multi-year agreement to integrate Symbility Solutions, a provider of cloud-based and smartphone/tablet-enabled claims technology for the property/casualty insurance industry, into its operations.

As part of the agreement, Donan will implement Symbility’s Claims Connect, a property/casualty claims workflow management software that will increase the speed and efficiency of communications around forensic claim investigation services, and streamline the traditional carrier/vendor communication process.

HCC Insurance Holdings

Texas-based HCC Insurance Holdings, a specialty insurer with offices in the United States, the United Kingdom, Spain and Ireland, hired Francis P. Tricamo Sr. to lead the company’s new construction property risks division based in New York.

The new division will further expand the Company’s specialty focus by developing its underwriting capability in builder’s risk insurance.

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