Davies Group announces major investment from HGGC as it targets continued investment in technology, innovation and growthDavies Group announces major investment from HGGC as it targets continued investment in technology, innovation and growth https://davies-group.com/wp-content/themes/corpus/images/empty/thumbnail.jpg 150 150 Davies https://secure.gravatar.com/avatar/8701b704854a928de11468b9da32a48c?s=96&d=mm&r=g
Davies Group has announced that 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.
The existing management team, including CEO Dan Saulter and CCO Darren Coombes, continue in their roles, and will remain significantly invested in the business.
Dan Saulter, CEO of Davies Group said: “We have a fantastic team here at Davies, and this investment from HGGC is a testament to their performance and delivery. We operate in a vibrant and ever-changing insurance market. We will continue to invest in service, technology and new capabilities to help our clients grow their businesses and provide great service to their customers. I am grateful for the support that Epiris has provided to Davies over the past five years, and I very much look forward to working with the team at HGGC.”
“This is not your ordinary third party insurance administrator,” said Rich Lawson, Co-Founder and CEO of HGGC. “Davies is at the forefront of innovative services within its industry and invests heavily in new technology—such as sophisticated workflow and analytics—that keep them ahead of the pack in the £1.5-billion UK & Ireland claims outsourcing market. They are leading the way in new applications like telematics, drones, and mobile imaging for advanced claims management. We are very excited to partner with Davies to build on their success through organic growth and strategic acquisitions.”