Worley Claims Services, which provides insurance claims services in North America, has acquired Alacrity Renovation Services from Lowe’s Companies, Inc. Financial terms of the transaction were not disclosed.

Founded in 1999, Alacrity provides managed home, property restoration and commercial property repair and emergency services to insurance carriers, financial institutions, property asset management firms and the real estate market. Through its experienced workforce of approximately 150 employees and credentialed network of more than 2,500 contractors, Alacrity specializes in providing property restoration and repair solutions in all markets throughout the United States.

Jim Pearl, CEO of Worley, said: “This acquisition expands Worley’s position as one of the largest providers of managed repair services in the property insurance market and aligns with our long-term strategy to continue making investments and strategic partnerships that will allow us to be a more comprehensive service provider capable of meeting the needs of our clients throughout the claim lifecycle.”

Worley provides property, auto and casualty claims adjustment services and staffing solutions to national and regional insurance companies, MGAs, TPAs, self-insured corporations, as well as clients in the federal/state government sector.

Alacrity is Worley’s eighth acquisition since 2015. In addition to the Alacrity acquisitions, Worley has also acquired Nexxus Solutions, NCA Group, RJMW Claims Services, Summit Independent Claim Services, Apex Claims Services of New England, Audit Services and Replacement Source of America.