Electra's Davies Group acquires Garwyn

The deal was funded via Electra's listed fund and the Electra Partners Club 2007 fund.

Following the transaction, Garwyn will become part of Davies Group, enabling the enlarged entity to offer a full-service liability and speciality offering.

Previous investment
Electra acquired Davies from LDC for £60m in October 2011. LDC had backed the £27m management buyout of Davies in February 2008.

Company
Essex-based Garwyn is a UK specialist liability loss adjuster. The company provides employer, public, product, professional, environmental and construction liability.

Davies is a claims service provider, typically serving insurers, managing general agents, brokers, the Lloyds market and large corporates. Core services comprise outsourced claims management, loss adjusting, surveying, anti-fraud, disaster response and building repairs.

Davies employs more than 600 people across the UK and Ireland. It manages more than 125,000 claims each year and looks after more than £750m of claims indemnity spend.

People
Alex Fortescue is chief investment partner at Electra. Dan Saulter is CEO of Davies.

As part of the deal, Garwyn's COO Lesley Johnson will lead the enlarged group's liability business and will join Davies' executive committee. Garwyn CEO Artur Niemczewski has left the business.

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• Topics
• UK / Ireland
• Financials
• Expansion
• Electra Partners LLP
• United Kingdom
• Acquisition finance