Hampshire-based Quindell Portfolio has finalised the acquisition of Accident Advice Helpline.
According to Insider Media Limited; Quindell Portfolio which has its corporate headquarters in Fareham, has issued 242.1 million shares to finance the deal (6 per cent of the group's total share capital).
In December 2012, Quindell Portfolio created a further 28.6 million shares and paid £15m in cash to help facilitate the takeover of Abstract Legal Holdings (ALH), parent company of Accident Advice Helpline.
Accident Advice Helpline is a firm that specialises in no-win no-fee arrangements and has been operating in the personal injury claims market since launching in 2000.
Rob Terry, chairman and group chief executive of Quindell, said: "I am confident that having such a high profile and respected brand within the Quindell stable will support our broader extension into consumer advice services, and our partnership to date has been greeted with enthusiasm by the insurance brands that we partner with."
This acquisition follows Quindell Portfolio’s purchase of Pinto Potts Solicitors last year. Pinto Potts also deal within the personal injury claims market.