HGGC-backed Davies acquires ASC

This marks Davies' 15th acquisition during HGGC's ownership. Davies is an HGGC Fund II portfolio company; the firm acquired it in 2017 for £90m.

Earlier in 2019, Alberta Investment Management Corporation co-invested in Davies for a minority stake in the company. The investment allowed Davies to purchase Frontier Adjusters and ASC.

Davies has annual revenues of $200m.

Company
Headquartered in Nashville, ASC is a provider of workers' compensation, along with property and casualty claims administration services. The company was founded in 2002.

People
HGGC – John Block (partner).
Alberta Investment Management Corporation – James Ridout (director).
Davies Group – Dan Saulter (CEO).

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