Davies Group, a specialist professional services and technology company, has signed a deal to acquire four claims and services businesses of Brown & Brown Insurance.

These four third-party administrator (TPA) businesses include American Claims Management (ACM), Preferred Governmental Claims Services (PGCS), USIS and ICA.

PGCS is a claims management business specialising in Florida governmental and municipality agencies, while ICA is an independent property adjusting company.

USIS provides managed care services, along with TPA, for workers’ compensation and liability claims.

The acquired enterprises account for an estimated annual revenue of $100m, with the deal expected to result in purchase proceeds ranging between $185m and $205m, Brown & Brown noted.

Acquisition of these specialist businesses will enhance Davies’ existing TPA offerings in property and workers’ compensation claims, auto and general claims, catastrophic loss adjusting and response management, and professional liability claims management.

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In addition, the transaction will introduce various niche services such as governmental third-party claims and medical claims management solutions to benefit Davies’ clients.

Subject to closing conditions, the latest transaction is slated to conclude in December 2023.

Following the closure of the deal, all the 600 teammates associated with the TPA businesses will be transferred to Davies’ team and will also continue to serve as valuable customers and carrier partners.

Brown & Brown executive Dhara Patel will also join Davies. Reporting directly to Davies North America CEO Matt Button, Patel will continue to spearhead the businesses.

Davies Group CEO Dan Saulter said: “This acquisition encompassing four businesses is one of the largest Davies has ever completed on US soil and represents huge gains we are making in North America.

“By broadening our service offering, we are able to provide an excellent service to our insurance and highly regulated clients from across sectors with a variety of specialisms.”