HGGC buys into insurance services group Davies

Insurance services provider Davies Group is gearing up for
international expansion under new owner HGGC, a mid-market US
private equity firm.
HGGC closed the purchase of Davies on Friday (27 January) for an
enterprise value of £90mn ($113mn). It acquired the firm from
Epiris, which manages the investments of London-listed Electra
Private Equity.
UK buyout firm Electra bought Davies 2011 for £61mn and has
overseen seven add-on acquisitions by the company over the past
four years.
Davi