Davies Group Continues Expansion with Randall & Quilter Purchase

Randall & Quilter Investment Holdings said it had sold its insurance services business to Midlands based online claims specialist, Davies Group for an agreed value of £20m. Davies also bought Sussex based Total Loss Settlement Services in December 2017, which was its fifth acquisition of the year.

The net cash consideration payable by Davies on the Randall deal, after deducting net debt applicable to the businesses, was approximately £18.6m.

The transaction involved the sale of the entire share capital of JMD Specialist Insurance Services Group and its subsidiaries as well as Randall & Quilter Bermuda Holdings and its Quest subsidiaries.

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