PE firm eyes majority stake in Davies Group – Bloomberg

BC Partners is nearing a deal to acquire a majority stake in London-based Davies Group Ltd. in a transaction that would value the insurance service company at about £1.2 billion, including debt, Bloomberg News reported.

The private equity firm could announce a deal as early as the week of March 15, according to the report, citing people familiar with the matter.

Existing investors HGGC LLC and Alberta Investment Management Corp. will reportedly retain minority stakes in Davies Group following the transaction.

Davies Group is a professional services provider that helps assess and manage claims for insurers, reinsurers and brokers. The company uses technology, including drones, to capture images of disaster sites that will be used in claims processes.