Kroll expands valuation business with AVC acquisition

Appraisal & Valuation Consultants (AVC), an independent firm specialising in the insurance valuation of oil, gas, chemical, power, mining, metals processing, and offshore facilities, has been acquired by Kroll.

According to Kroll, the acquisition of AVC will allow the company to expand its business in energy sector insurance valuation by bringing in new expertise and technology. AVC's London, Manchester, and Manila-based teams will join forces with Kroll to form a dedicated energy team within its fixed asset advisory services division.

AVC has performed valuation assignments for numerous energy and power companies in markets such as Hong Kong, Singapore, China, Myanmar, Malaysia, South Korea, Thailand, Indonesia, India, Pakistan, the Philippines, and Vietnam over the last 30 years.

Antony Attwell, the CEO and co-founder of AVC, will join Kroll as a managing director and lead the new team. Rebecca Fuller, managing director and global fixed asset advisory services

"With Kroll's market reputation and global platform, this move is an exciting next step for our team," said Attwell. "We are excited to bring our specialist knowledge to Kroll and assist clients in the energy sector and beyond." Our expert team of valuation consultants has extensive experience in Asia, which is supported by rising demand for accurate replacement cost values, insurer pressure, 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 up replacement costs and many are underinsured," said Srividya Gopal, Kroll's managing director and APAC management chair. "The acquisition strengthens our ability to provide technology-enabled solutions to our energy clients that will drive consistency and efficiency in fixed asset valuations, establishing a new standard of excellence in the market." In addition, the team has strong client relationships in complementary markets such as Asia-Pacific, EMEA, and the Americas. We are thrilled to have them aboard."