Polygon acquires Neways Property Care

Polygon has acquired Neways Property Care in UK, on 3 October 2018. The acquisition enables Polygon to offer its customers a full service of property damage repair and restoration. The acquisition will add 54 employees and annual sales of £5.4 million.

Headquartered in Sheffield, Neways is a well-respected chartered building company founded in 1971. The company’s principal customers are residential insurers for whom Neways repair damaged property. While Polygon UK and Neways share many of the same customers, today they work together as separate businesses. The acquisition enables insurers to benefit from a fully joined up, in-house restoration/repair model, shortening claims, eliminating cost and improving the customer claim journey. It also supports Polygon’s aim to offer a one stop shop to its customers.

“Neways is justifiably well respected in the UK market and fits well with Polygon’s culture and goals. Like Polygon, Neways have built their success on their people and their knowledge. Their long-standing customer relationships demonstrate their reputation in a tough and demanding sector. As insurers come under continued pressure of rising customer expectations and price, we see opportunity to offer a transparent one supplier approach, using better processes and technology to deliver on these demands. We are therefore delighted to welcome the Neways team to join us and look forward to developing together,” says Jeremy Sykes, Country President, Polygon UK & Ireland.

“We are really looking forward to the cooperation with Polygon -we’ve worked on many claims together over the years and see this as a great opportunity to offer something truly new to the UK insurance market. Polygon’s scale will augment our relationship with existing clients and create new opportunities within the insurance sector”, says Leon Grayson, CEO at Neways.

Polygon will offer both joined up and separate services to customers depending on the customer’s preference.

For more information, please contact:
Mats Norberg, Chief Financial Officer, mats.norberg@polygongroup.com, +46 70 331 65 71

Polygon is a Global Expert and the European market leader in Property Damage Control. On 3 continents and in 13 countries, our over 3.600 specialists prevent, control and mitigate the effects of water, fire and climate. Our innovative and tailor-made solutions combine people, knowledge and technology for a wide range of customer segments.