R&Q sells services businesses to Davies Group

Randall & Quilter Investment Holdings (R&Q), the
London-listed run off acquirer, has agreed to sell its insurance
services and captive management businesses to private equity-backed
Davies Group.
The deal is valued at around £20mn ($27.5mn), with R&Q
due to receive £18.6mn net cash after stripping out debt,
R&Q said today.
The deal involves all the JMD Specialist Insurance Services
entities, R&Quiem, John Heath & Company, and AM Associates,
along with Randall