Travers Smith, led by corporate partner Richard Spedding is advising The Innovation Group plc (LSE:TIG) on its £35m acquisition of LAS Claims Management Ltd, a Gresham Private Equity portfolio company.

The acquisition, announced this morning, will be funded by a proposed £65m equity offering, and is expected to complete in March 2014.

Innovation Group is a global provider of insurance software solutions and business process services. It employs over 2,800 people across North America, Europe, Asia Pacific and
South Africa and works with 15 of the top 20 global insurance markets, 16 of the top 20 global insurance companies and 3 of the world's top 5 fleet and lease management companies.

LAS provides its customers with a full suite of outsourced services that handle insurance claims across a range of property-related perils including storm, burst pipes, flood, fire, theft and accidental damage.

The Travers Smith team includes corporate associate Laura Pembridge and tax partner Simon Yates.

DLA Piper is acting for Gresham Private Equity and the management sellers.