Kroll has acquired Appraisal & Valuation Consultants (AVC), an independent firm specialising in the insurance valuation of oil, gas, chemical, power, mining, metals processing and offshore facilities.
According to Kroll, its acquisition of AVC will expand its business in energy sector insurance valuation by bringing in additional expertise and technology. AVC’s team, based in London, Manchester and Manila, will join Kroll to form a dedicated energy team within its fixed asset advisory services division.
Over the past 30 years, AVC has conducted valuation assignments for many energy and power companies in markets such as Hong Kong, Singapore, China, Myanmar, Malaysia, South Korea, Thailand, Indonesia, India, Pakistan, the Philippines and Vietnam.
Antony Attwell, CEO and co-founder of AVC, will become a managing director at Kroll and lead the new team. He will report to Rebecca Fuller, managing director and global fixed asset advisory services leader.
“Kroll’s market reputation and global platform makes this move an exciting next step for our team,” Attwell said. “We look forward to bringing our specialist knowledge to Kroll and supporting clients across the energy sector and beyond. Our expert team of valuation consultants have amassed substantial experience in Asia, underpinned by increasing demand for accurate replacement cost values, pressure from insurers and rising inflation.”
“Our new colleagues bring a wealth of specialised expertise that will benefit our energy clients at a time when inflation is driving replacement costs up and many are underinsured,” said Srividya Gopal, managing director and APAC management chair at Kroll. “The acquisition enhances our ability to provide our energy clients with technology-enabled solutions that will drive consistency and efficiency in fixed asset valuations, establishing a new standard of excellence in the market. The team also brings strong client relationships in complementary markets in Asia-Pacific, EMEA and the Americas. We are delighted to have them on board.”
