Crawford & Company To Purchase The Garden City Group

Crawford & Company has signed a letter of intent to acquire The Garden City Group, Inc., which specializes in administering settlements in class action cases and other large-scale litigation.

The two companies expect to complete the transaction by the end of 1998. The purchase will be made for an undisclosed amount of cash.

Crawford Chairman and Chief Executive Officer Forrest L. Minix said, "This is a perfect match. The Garden City Group, Inc. has an outstanding reputation for administering high volumes of class action and mass action claims in the securities, anti-trust and consumer markets. When combined with Crawford's expertise as the court-appointed property inspectors in class action settlements, along with its wide range of services, Crawford will be able to offer one-vendor service to respond to our customers' needs."

Michael Sherin, chairman of The Garden City Group, Inc., said, "The combination of Garden City's experience and technology with Crawford's expertise, size and global reach represents a significant opportunity for us."

The Garden City Group Inc. administers settlements in class actions, mass torts, bankruptcies and other major litigation, using proprietary, state-of-the-art technology and software. It has 85 employees, all of whom Crawford plans to retain, and has offices in Garden City, NY, New York City and Sarasota, FL.