Construction consulting firm J.S. Held LLC acquired construction claims firm Lovett Silverman Construction Consultants Inc. J.S. Held is backed by Lovell Minnick Partners.
Lovett Silverman, founded in 1945, provides consulting services in surety claims, property inspection, risk analysis and litigation assistance-including providing expert witnesses in trials. Surety claims refers to when one party has to pay the other a certain amount if terms of a contract are not met. Lovett Silverman has offices in Orlando, Florida and Hauppauge, New York.
“We have sought to enter the surety services sector for some time,” says J.S. Held CEO Jon Held. “We will be able to offer a wider range of services to our clients, while further scaling our business.” Jericho, N.Y.-based J.S. Held is a consulting firm that focuses on property damage, project management and other construction claims.
Lovett Silverman is J.S. Held’s third add-on since the buyer has received an investment from Lovell Minnick in 2015. J.S. Held previously purchased Chroma Building Corp.’s property loss division in 2015 and Wakelee Associates LLC, another construction consulting firm. The latter deal was made in 2016.
Lovell Minnick is a financial services-focused private equity firm that invests up to $100 million in equity in deals. Earlier in 2016, Lovell Minnick-backed Worldwide Facilities agreed to buy energy insurance broker Sloan Mason Insurance Services and in 2015, the firm bought a stake in broker-dealer Lincoln Investment Planning Inc. Lovell Minnick has offices in Philadelphia and Los Angeles.
Corporate Fuel Advisors and Silverman Acampora LLP advised Lovett Silverman. Morgan Lewis & Bokius LLP represented J.S. Held.