Professional services and technology business Davies has announced its acquisition of resourcing and consultancy firm Grovelands.

Grovelands will be incorporated into Davies Resourcing and form part of Davies; existing Consulting & Technology business led by CEO Mark Grocott. Ben Wilson, Grovelands CEO, and founders Mark Davies and David Leen will continue to lead day-to-day operations.

Dan Saulter, Group CEO of Davies commented: “I’m delighted to welcome Ben and the wider team to Davies. The insurance market is undergoing significant digital and operational transformation. To ensure we can lead this change we must continue to invest in our consulting and technology operations to support our insurance and highly regulated clients. Businesses seeking to deliver transformation and regulatory projects want to do so without disrupting their business-as-usual operations and service delivery, which is where we step in.”

He added: “Diversifying our solutions and expanding our operations is an important plank to our growth strategy. By adding specialist consulting and technology solutions we can become more valuable to our 800+ global insurance and highly regulated clients.”

Ben Wilson, CEO of Grovelands, added: “We’re delighted to be joining Davies, a likeminded business committed to delivering exceptional client service; and who are at the forefront of innovation. Davies has an excellent track record of investing in new technology and diversifying its solutions to better serve its clients. The cultural fit was an important factor for us and I’m pleased that this partnership will provide the Grovelands team with more career development opportunities within a fast growing, ambitious firm.”

In March 2021, funds advised by BC Partners have signed a definitive agreement to acquire a majority stake in Davies, the professional services and technology business.

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By GlobalData

The new partnership is set to diversify and boost Davies’ shareholder base. It also plans to continue partnering with complementary businesses via M&A.

Furthermore, existing investors HGGC and AIMCo will continue to hold minority ownership stakes in the business.