Press Releases

Official Updates from Ethos Risk Services

FOR IMMEDIATE RELEASE: 8/5/2021

HUB Enterprises and Ethos Risk Services Join Forces

St. Petersburg, FL  – Carousel Capital (“Carousel”) announced today that it has invested in Hub Enterprises, Inc. (“Hub”), which is to be combined with an existing portfolio company of its fifth fund, Ethos Risk Services, LLC (“Ethos”). 

Based in Broussard, Louisiana, Hub is one of the industry’s leading providers of security and insurance defense investigations, servicing a national client base of insurance carriers, corporations, and governmental entities.  Founded in 1966 and privately held by the Company’s second-generation President, James H. “Chip” Romero, Hub is distinguished within the security and insurance defense investigation industry with a long-established reputation for customer service, integrity, and professionalism.

When these two-business come together the complementary strengths will provide its national client base with the industry’s leading portfolio of fraud and risk mitigation solutions. Carousel believes that the combined organization will be better positioned to drive accelerated growth in the future as a result of the added talent, longstanding customer relationships, and esteemed industry reputation of Hub.

“We initially began discussions with Chip as part of our direct outreach efforts with founders and CEOs of Southeastern-based services companies prior to our initial partnership with Ethos,” said Peter Clark, a Partner of Carousel.  “We continued these conversations following our investment with Ethos and were impressed by the uniquely complementary core competencies of Hub with Ethos, along with their strong management team and close cultural alignment – the combined company is well-positioned to accelerate each organization’s already strong growth trajectories.”

“This is an exciting partnership with far reaching impact for the clients we serve, the industry we represent and our HUB Enterprises associates”, said Chip Romero, HUB Enterprises President. “Chip and his team are pioneers in our industry and share the same vision of providing insurance carriers and other constituents with the most effective, data-driven, fraud and risk mitigation solutions – We are excited to work with them.” said Micah Smith, CEO of Ethos.

FOR IMMEDIATE RELEASE: 8/20/2019

Ethos Risk Services Acquires Summit Investigations

Ethos Takes Next Steps in Growth Strategy

St. Petersburg, FL – Ethos Risk Services LLC, a leading risk mitigation company, announced the recent acquisition of Summit Investigations. The transaction took place on August 14, 2019. Terms of the agreement were not disclosed.

Summit Investigations provides a full range of investigative services for a variety of clients. Based out of Boston, Massachusetts, Summit has been operating since 1998 and led by a team of industry experts. Summit has over 100 investigators which expands Ethos’ network of investigators to over 500.

“Summit is one of those companies in our industry that has a strong reputation for delivering results and putting clients first. As we’ve learned more about their team, we found that the core values our two companies adhere to are very well aligned,” said Ethos Risk Services CEO, Micah Smith. “This acquisition is a great fit and further strengthens our footprint in the northeast along with better coverage and service for our collective clients.”

This acquisition is another step in the long-term, strategic growth plans for Ethos. The transition will be seamless for clients while processes, clients, and staff are fully integrated. Once completed, it will result in further quality of investigator coverage, new products for Summit clients, and a continued commitment to deliver the best customer service. The integration is expected to be completed over the coming weeks.

“I am pleased to be joining the Ethos team. The Ethos philosophy compliments the focus on customer service that our clients have come to expect,” said Summit Investigations President Bob Reynolds. “The opportunity to work with an industry leader is exciting and we look forward to continued growth together.”

This is Ethos’ second acquisition in 2019 following the successful integration of Combined Investigators, Inc. and SIU Management LLC.

About Ethos Risk Services, LLC

Ethos Risk Services is a full-service risk mitigation firm headquartered in St. Petersburg, Florida. Ethos provides nationwide and international coverage from a team of over 500 investigators servicing all 50 states and over 70 countries. Founded in 2006, the company has provided comprehensive fraud management to insurance companies, self-insured employers, attorneys and third-party administrators within the insurance industry. Ethos is dedicated to its vision of being the most tech-enabled, customer-centric investigative services company and to build a partnership with their clients in combating fraud across the globe. For more information about Ethos Risk Services, please visit the company website at www.ethosrisk.com.

About Summit Investigations

Since 1998, Summit Investigations has specialized in serving the insurance industry in 20 states along the eastern coast. They provide a wide array of investigative services through a network of approximately 100 investigators.

To view the press release on PR Newswire click here.

FOR IMMEDIATE RELEASE: 2/5/2019

Ethos Acquires Combined Investigators, Inc and SIU Management, LLC

Strengthens Ethos Growth Strategy

St. Petersburg, FL – Ethos Risk Services LLC, announced today the acquisition of Combined Investigators, Inc. and SIU Management, LLC. The acquired businesses are regional providers of investigative and SIU services for employers, third party administrators and insurance companies throughout the southeast. Integration of the two companies is expected to be completed over the coming months which will result in enhanced geographic footprint and continued commitment to customer service for both companies. Terms of the agreement were not disclosed.

“Over the last several months and years, we have gone through an exhaustive search process to find the right regional competitor to partner with,” said Ethos Risk Services CEO, Micah Smith. “Combined’s presence and reputation in the Eastern U.S. is unmatched; coupled with national and international coverage, along with our range of technology-enabled services, we are now one of the premier investigative solution providers in the U.S. We are very excited to have the incredibly talented team at Combined join our Ethos family; including Bill Tabor, David Collins, and Dee Tabor as recognized industry leaders.”

Combined Investigators’ services and standards of excellence are consistent with those of Ethos Risk Services making this an ideal match for both companies. Combined’s clients will benefit from the enhanced resources and technologies from Ethos along with their full suite of investigative services.

“I am excited to bring together two stellar investigative companies that will provide unparalleled service to our clients and look forward to building relationships that ensure the best possible outcomes in the ongoing battle against fraud,” said David Collins, CEO of Combined Investigators and SIU Management.

This acquisition aligns with long-term, strategic growth plans for Ethos. The transition will be seamless for clients while processes, clients, and staff are fully integrated.

“We are excited to become a part of the commitment and energy within the Ethos team,” said Combined’s President, Bill Tabor.  “After years of organic growth in the Eastern U.S., this consolidation allows us to offer our clients a true national presence. This is an exceptional opportunity to provide new and expanded services to our clients.”

About Ethos Risk Services, LLC

Ethos Risk Services (ERS) is a full-service risk mitigation firm headquartered in St. Petersburg, Florida. ERS provides nationwide and international coverage from a team of over 350 investigators servicing all 50 states and over 70 countries. Founded in 2006, the company has provided comprehensive fraud management to insurance companies, self-insured employers, attorneys and third-party administrators within the insurance industry. Ethos is dedicated to its vision of being the most tech-enabled, customer-centric investigative services company and to build a partnership with their clients in combating fraud across the globe. For more information about Ethos Risk Services, please visit the company website at www.ethosrisk.com.

About Combined Investigators, Inc and SIU Management, LLC

Combined Investigators, Inc and SIU Management, LLC has been providing investigative services to the southeast region since 1986. Today the company operates in 19 states, and has performed thousands of investigations utilizing over 60 experienced senior investigators and state of the art technology. SIU Management provides turnkey SIU services for both national and regional providers within the insurance industry.

To view the press release on PRWeb click here.

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