IMAS acted as the exclusive financial adviser to the Building Validation Solutions Group of Companies (“BVS”) on the sale of the business to Davies Group.
Established in 2010, BVS is the leading provider of tech-enabled, end-to-end property and subsidence claims validation services in the UK. Its highly-advanced, web-based claims management system MetrixTM enables BVS to fully automate the low-value building claims process, achieving greater efficiencies for its insurer clients. Based in Bolton, the company employs over 70 people who will remain with the business following the sale, under the leadership of Managing Director Chris Brown.
Davies Group is a specialist professional services and technology business delivering operations, consulting and technology solutions across the risk and insurance value chain. Davies’ core service lines include Claims Solutions, Legal Solutions, Insurance Services and Consulting & Technology. It has a team of 5,000 professionals across the UK, Ireland, Bermuda, the US, Canada, Spain, Switzerland and India. The business has its headquarters in London. BVS will form an integral part of Davies’ UK-based Claims Solutions arm and strengthen its low-value property claims proposition for the insurance market.
Chris Brown, Managing Director of BVS, commented:
“We’re delighted to be joining forces with Davies. Our shared vision of disrupting traditional claims models through investment in automation and digital transformation was an important factor for us and enables us to take a compelling combined proposition to our clients”.
IMAS was retained by BVS to advise the business and its shareholders on a sale. IMAS managed a tightly controlled and limited auction process, soliciting interest from a small number of interested parties. IMAS advised BVS on all aspects of the transaction, including assisting the business in the detailed negotiations of the terms of the transaction and guiding management and shareholders throughout a comprehensive due diligence process conducted by Davies Group.