Davies Group Limited (“Davies”) has agreed to acquire Asta Capital Limited

Davies announced today that it plans to acquire Asta Capital Limited (“Asta”)

• Terms of the deal are not disclosed

Asta CEO Julian Tighe will lead Davies’ global relationship with Lloyd’s

• He will also lead client development and growth across Davies’ Insurance Services segment
• Asta CUO Simon Norton will take responsibility for underwriting activities across Davies
• Both Julian and Simon will join Davies’ Global Executive Leadership Team

Davies provides specialist professional services and technology to insurance companies

• Davies develops solutions across the risk and insurance value chain, serving highly regulated markets
  • Solutions include: claims, underwriting, distribution, regulation, customer experience, human capital, etc.
• In August, BC Partners received regulatory approval to acquire a majority stake in Davies

Asta is the market leading third-party Managing Agent at Lloyd’s

• Currently manages 11 Syndicates, 1 SIAB, 3 SPAs and 3 MGAs with a total capacity of >£1.4bn
• Asta has been a key contributor to the development of Lloyd’s Syndicate-in-a-box (“SIAB”) framework

TCMA acted as exclusive financial advisor to Davies; key roles and responsibilities include:

• Assessment and positioning of the Lloyd’s market opportunity
• Analysis of Asta’s competitive positioning in the market and guidance on customer perception
• Assistance in valuation and other financial analysis
• Assistance in diligence coordination and creation of materials shared with Davies’ Investors / Board
• Advised on the structuring and negotiation of the transaction terms
• Providing objective advice and acting as a sounding board to the buyers throughout the process