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Donan and Insurance Underwriting and Claims Solutions Provider CCG IQ Close Merger.

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MANews-(C)2009-2021

US-based forensic engineering and investigation firm Donan and US-based insurance underwriting and claims solutions provider CCG IQ have closed their merger.

The combined company will partner with New Mountain Capital, a growth-oriented investment firm with over USD 35bn in assets under management.

Carousel Capital, CCG IQ's first institutional investor, has backed CCG IQ since 2017 and will remain a significant minority investor in the combined company.

Terms of the transaction were not disclosed.

The combined company will be headquartered in Louisville, Kentucky, and Charlotte, North Carolina, with more than 500 employees serving all 50 states.

Donan president and chief executive officer, Lyle Donan, will become Executive chairman and Chief Growth officer, and CCG IQ chief executive officer and founder, Damon Stafford, will become CEO of the combined entity.

The combined entity will handle more than 100,000 technical claims reviews annually, serving all 20 of the top 20 US P and C insurance companies, with 200+ licensed professional engineers, 100 fire investigators, 1,000+ licensed HVAC technicians and 2,000+ electrical equipment technicians.

Deloitte Corporate Finance LLC served as exclusive financial advisor to...

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