Crawford & Co. Buys Florida Third-Party Administrator

Atlanta-based claims manager Crawford & Co. said Monday it has entered into an agreement with Platinum Equity to buy Broadspire Services, a third-party administrator (TPA) based in Plantation, Fla. The deal announced jointly by Crawford and Platinum, of Beverly Hills, Calif., calls for Crawford to pay $150 million. Crawford said it will more than double the company's revenue from self-insured clients. Crawford officials said they expect to complete the purchase in the fourth quarter. "We are excited about this acquisition and believe that it not only further strengthens our position i...