|Sector:||Services & Industrials|
In March 2021, BC XI acquired Davies Group (“Davies”).
Davies is an increasingly international provider of professional services and technology enabled outsourcing solutions to the insurance industry, with a leading position in the UK and a growing presence in the US. The company employs 4,000 people supporting more than 800 clients around the world, and in recent years has expanded into new markets including Bermuda, Canada and the US. Through a combination of organic growth and strategic acquisitions, the firm has increased its annual proforma revenues six-fold over the last 4-years, to more than £350 million and Davies has been recognised as one of the UK’s fastest growing international businesses for two consecutive years.
This new partnership will diversify and strengthen Davies shareholder base, as it seeks to drive further global expansion, increase investment in technology and digital transformation, and to continue to partner with complementary businesses via M&A.