Public sector claims management specialist TMS acquired by Davies Group
Davies Group has acquired Glasgow-based property and casualty public sector claims specialist Top Mark Claims Management Limited (trading as TMS), in a deal advised by BCMS.
In its first deal of 2019, Davies Group said TMS will become the founder member of its new Davies Public Sector division within the Davies Claims Solutions business. Managing Director Stephanie Staubach will continue to lead TMS, reporting to Lesley Johnson, Managing Director of Davies Casualty.
Following the deal, Davies boasts a team of more than 1,700 professionals delivering core operations, digital solutions and consulting to more than 400 insurance, highly regulated and global businesses, from its command centres across the UK, Ireland, Bermuda and North America.
Dan Saulter, Group CEO of Davies said: "I am pleased to welcome Stephanie and the team to Davies. The team have a great reputation and bring a wealth of specialist skills, knowledge and technical expertise to our growing business. We look forward to working together to continue to deliver for our clients, alongside new investment to help Stephanie and her team to grow TMS".
Stephanie Staubach, Managing Director of TMS said: "We're delighted to be joining Davies and to be a part of its exciting growth plans. In addition, it will offer our staff great opportunities for personal development and career progression. I would also like to take the opportunity to thank our clients for putting their trust in us over the last 12 years".
TMS was advised by BCMS and Continuum Corporate Lawyers, while Davies was advised by Grant Thornton and Osborne Clarke. The value and terms of the transaction are undisclosed.
BCMS Lead Advisor Ilan Elfassy commented: "Both parties got on well from the outset, which ensured a smooth transaction. TMS is a great addition to the Davies Group and we are delighted that we were able to support Stephanie and Mark in starting this new chapter."