Davies Group acquires Ufton Associates
BCMS has finalised the sale of specialist liability provider Ufton Associates to Davies Group. Ufton Associates was founded in 1990 by shareholders Patrick Austin and Nick Harrison, to investigate and settle construction and liability insurance claims.
At the time of the transaction in 2012, Ufton Associates operated offices in Central London and Warwick. The practice specialised in liability claims for many of the London Boroughs, and Councils in the South East of England and the Midlands, via insurers and directly for the authorities. It also acted as loss adjusters for a number of construction underwriters on losses throughout the UK.
“I definitely think BCMS maximised the final price with their negotiations” – Nick Harrison, Ufton Associates
The Davies Group is a multi-national specialist professional services and technology firm, working in partnership with leading insurance, highly regulated and global businesses. The group delivers operations, consulting and technology solutions across the risk and insurance value chain, including claims, underwriting, distribution, regulation, customer experience, human capital, transformation and change management.
Nick Harrison, director of Ufton Associates, added: “We are very pleased to be joining forces with Davies, and believe that the sale provides everyone within the organisation with the ideal platform from which to deliver our services in the future.”
“I definitely think BCMS maximised the final price with their negotiations – the final offer was significantly higher than others had tendered,” the shareholders told BCMS at the time of the deal. “We were very satisfied with the service provided so much so that we would not have considered an approach to the eventual buyer without BCMS’ involvement. We have already recommended BCMS to others, in fact.”