Loss adjusting and claims solutions group QuestGates secures investment from Equistone
Birmingham, 5 August 2024 – QuestGates group today announces it has secured investment from
Equistone Partners Europe (“Equistone”), one of Europe’s most active mid-market private equity
investors.

QuestGates is headquartered in Birmingham and operates out of 12 offices across the UK and Ireland.
Founded in 2003, the company has evolved over the past two decades from a niche loss adjusting
provider into a professional services business providing multi-disciplinary loss adjusting, claims handling,
surveying, engineering and legal services. QuestGates employs circa 500 people and generated
revenues of £41 million in the 2023/24 financial year.

QuestGates’ management team, led by CEO Chris Hall, will continue to lead the company and, alongside
the wider team of QuestGates employees, will remain majority shareholders in the business. Equistone’s
all equity/no debt minority investment in the company will support the continued delivery of QuestGates’
existing growth strategy. This will comprise both organic growth initiatives, such as further diversification
into wider specialist claims services and development of their proprietary suite of technology products,
as well as continued acquisitive growth, building on the 18 M&A deals completed by the company since
2003.
Equistone has invested over €1bn in 14 financial services business across Europe, with extensive
experience across asset-light service-provider models. Dominic Geer and Tristan Manuel will join the
board of QuestGates, complementing the management team’s expertise within the loss adjusting
industry.
Chris Hall, Chief Executive Officer of QuestGates, said: “Over the 20 years since incorporation,
QuestGates has grown to be a leader in the UK loss adjusting and claims sector. We undertook an
extensive review to identify a partner who could provide the capital and support that would allow us to
maintain our growth and continue investing in innovation and service quality. With its long-term approach, track record of supporting UK financial services businesses and cultural alignment around our focus on our customers and staff, Equistone is the right fit as the partner to support the next phase of our
development.”

Tristan Manuel, Director at Equistone, said: “We are delighted to be partnering with Chris and his
team to support the next chapter in its growth. The company has a highly experienced leadership team
with strong networks and also boasts a track record of long-term organic growth and successful M&A
activity. That combination presents a fantastic opportunity for Equistone to help QuestGates continue to
evolve its service offering, grow its client base and consolidate a fragmented market.”
Completion of the transaction is subject to the customary regulatory approvals.

About QuestGates
QuestGates Limited is the UK’s largest independent loss adjusting and claims solutions group. It has
an award-winning reputation for innovation and providing high quality technical loss adjusting and
claims related services, predominantly in liability, property, motor, environmental, subsidence, cyber
and counter fraud. QuestGates also offers specialist loss adjusting and risk management advice on an
international basis for the entertainment, advertising and motor sport industries through its subsidiary
Hyperion. Other subsidiaries include CPA, Hyperion, Structural Surveys, Ramsay McMichael and
QGLaw. As the UK & Ireland representative of the vrs Adjusters, QuestGates is also able to provide
global services via the organisation’s international members.
Further information can be found at: www.questgates.co.uk

About Equistone Partners Europe
Equistone is an independent investment firm wholly owned and managed by its executives. The
company is focused on investing in European mid-market buyouts across six core sectors. Equistone
has a strong focus on change of ownership deals and aims to invest between €25m and €200m+ of
equity in various businesses. The company has a team of over 40 investment professionals operating
across Benelux, France, Germany, Switzerland and the UK, investing as a strategic partner alongside
management teams. Equistone Partners Europe Limited is authorised and regulated by the Financial
Conduct Authority.
Further information can be found at www.equistonepe.com