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TRISTAR, the largest privately owned, independent third party claims administrator in the United States, has agreed to acquire Aspen Risk Management Group.

Aspen delivers workplace safety stand-alone, or as part of loss control, or ergonomics. Whether conducting loss control surveys, delivering safety training, or performing remote ergonomic assessments, the Group works to identify risk and opportunities using a combination of technology and human insight. Its solutions can significantly reduce both the frequency and severity of losses.

This acquisition is a significant step forward in establishing a strategic TRISTAR presence in the loss control and workplace safety market. In addition to its risk control services, Aspen provides remote ergonomics, online service platforms, and specialty services for both commercial and government clients.

Commenting on the acquisition, Steve Thompson CEO of Aspen stated: “For the past 15 years our team has worked hard to become exceptional at risk control and workplace safety. Joining TRISTAR gives us the chance to carry our primary purpose of saving lives, preventing injuries & illnesses, and protecting our clients from harm all across America!”

Tom Veale, President of TRISTAR stated: “Aspen’s reputation and extensive experience in both the insurance and self-insurance space are a natural addition to the TRISTAR family. They are differentiators in the industry and we look forward to introducing them to our clients and partner network.”

All Aspen employees will continue operating out of the existing locations under the name Aspen Risk Management Group, a TRISTAR Company.

Terms of the transaction were not disclosed.