Davies Group, a UK-based insurance service provider, has purchased GBB Holdings, a specialist in collision investigation, failure analysis and vehicle assessments.
The deal also involves the acquisition of motor engineering solutions provider Banwells.
The acquired businesses will form part of Davies’ motor claims within the group’s wider claims solutions business.
Brian Henderson, managing director of GBB and Banwells, will continue to lead the business, Davies noted.
The acquisition of Burnley-based GBB is part of Davies Group’s strategy to strengthen its motor claims capabilities.
Davies said it will operate Banwells and its existing specialist motor engineering business TLSS under the banner of Davies Motor Engineering.
However, the forensic investigations team will continue to trade as GBB.
Davies group CEO Dan Saulter said: “It is a pleasure to welcome Brian and the wider team to Davies. GBB and Banwells have a great reputation in the insurance, legal, fleet and law enforcement sectors. The team brings a wealth of knowledge and new technical skills, which align with our strategy of broadening our capability and adding deeper domain expertise for our clients.”
Henderson said: “We’re delighted to be joining Davies and are excited about its growth and investment plans. The deal will offer our team great opportunities for their personal development and career progression, and we look forward to working with the wider Davies group to the benefit of our highly valued clients.”
The deal marks Davies’ second takeover this year and follows the Canadian investor AIMCo acquiring a minority stake in the business earlier in the year.