The US private equity firm HGGC has taken a majority stake in the business as it embarks on the next phase of its growth and development. The deal provides a successful exit for Epiris, who invested in 2011.
Davies is a leading third party administrator (“TPA”), providing claims and insurance services to more than 100 clients across the UK & Ireland. HGGC’s investment will allow Davies to continue its strategy of investing in niche lines, technology and technical expertise.
Over the past four years Davies has delivered significant growth through a combination of winning new strategic partnerships and via targeted acquisitions.
Davies has completed seven bolt-on deals that have added technical expertise and a range of new services to its insurer, MGA, broker and corporate client base. Alongside its established UK & Ireland claims strategy, Davies will additionally target new segments of the insurance services and specialty BPO markets, and overseas expansion for its claims business.
Liberty were appointed by CEO Dan Saulter and the Davies management team to advise them on the transaction.