Technology
| Sector | Technology |
| Sub-sector | Insurance |
| Location | United Kingdom; United States |
BC Partners is a leading alternative investment manager focused on private equity, credit, and real estate, with deep networks across Europe and North America. Davies, provider of specialist professional services and technology solutions across the risk and insurance value chain, has experienced accelerated growth in recent years. Through both organic growth and strategic acquisitions, Davies has increased its annual proforma revenues six-fold in four years and has expanded into the US, Bermuda and Canada. This rapid expansion presented the need for an established partner with a global network and sector expertise.
We at BC have been watching Davies’ progression over the past few years with keen interest, as this was a business we knew had serious potential. Over this period it has expanded geographically, successfully entering and establishing a presence in the US, Canadian and Bermudian markets, completed more than 30 acquisitions, diversified its service offering and cemented its position as a clear leader in its sector – all whilst upholding its reputation for providing excellent service to its customers."
Cédric Dubourdieu,
BC Partners
Following the transaction, Macquarie Capital’s Principal Finance team was engaged to participate in BC Partners’ senior financing.
Outcome
Highly regulated clients globally
Annual proforma revenues
Strategic acquisitions made by Davies to date
This will also enable Davies to expand their service offerings to over 800 insurance and highly regulated clients around the world. The transaction diversifies and strengthens Davies' shareholder base while ensuring that existing investors continue to hold minority ownership stakes in the business alongside the Davies leadership team and employees.
I am also pleased that both HGGC and AIMCo wish to continue to invest in Davies alongside BC Partners. I am proud of what the team has achieved, and this transaction will mean that our employee ownership programme, the Davies Incentive Plan, will pay out to eligible colleagues for a second time, reflecting the huge role they play every day in serving our 800+ insurance and highly regulated clients around the world."
Dan Saulter,
Group CEO of Davies
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