Aimco takes minority stake in HGGC-backed Davies Group

HGGC will continue to hold a majority stake.

Davies has also secured financing from ICG and Permira Debt Managers – the first time Permira Debt Managers has invested with HGGC.

Since HGGC's 2017 investment, Davies has acquired 11 businesses.

Previous funding
HGGC acquired Davies from Epiris Managers – formerly Electra Partners – in a deal worth £90m in early 2017.

Electra acquired Davies from LDC in a deal worth £60m in October 2011, while LDC backed the £27m management buyout of Davies in February 2008. LDC provided £8.6m in equity for a majority stake, with a debt facility provided by HSBC.

Company
Headquartered in London, Davies is an operations, consulting and digital services partner for organisations in highly regulated markets, such as insurance and financial services. It generated £77.6m in the year to 30 June 2018, up 41% on the previous 12 months. EBITDA rose 47% to £15.4m. It has operations in the UK, Ireland, Bermuda and North America, and employs 1,000 staff.

People
HGGC – John Block (principal).

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