Technical Assessing MD David Cambridge has led a management buyout of the loss adjuster for an undisclosed amount from the business’s majority owners.

The completion of the buyout was announced today in a brief statement, with the new owners calling it a “new chapter” for the company since its founding in 1986 by Steve Nance.

“With [Mr Nance] having resigned as a director and ceasing to be active in the business since June 2019, the management buyout provided the mechanism for the Technical Assessing management team to reshape the future direction of the business,” Mr Cambridge said.

“The management team are especially excited for the next phase of Technical Assessing’s growth.”

Technical Assessing has its head office in Sydney and is supported by branches in Melbourne, Brisbane, Launceston, Hobart, Perth and international affiliates.