It was back in January that HGGC revealed its £90 million deal for the Davies Group – and now its growth plans for the firm have become even more apparent with another key deal.
Earlier today it was revealed that HGGC, the private equity firm, had completed a deal for specialist regulatory services firm Cynergie UK – and that the latter will be fully integrated into the Davies Group.
Cynergie is considered the first add-on acquisition for Davies and the firm will retain its name while becoming a specialist division of the Davies brand. Its senior management team will also make the jump across with Mark Parnaby to lead as the managing director.
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“This acquisition is a key step in our strategy to offer a greater range of solutions to our clients,” said Dan Saulter, CEO of the Davies Group. “In addition, we’re very excited to have the folks from Cynergie join Davies, as they add invaluable talent to our team.”
Founded in 2001 and based in Peterborough and Birmingham, UK, Cynergie provides outsourced regulatory and complaints management services across highly-regulated sectors including insurance, financial services, and utilities and to ombudsmen and regulators.
“Partnering with the Davies management team to identify this growth opportunity shows the alignment of our vision for the business,” said Rich Lawson, co-founder and CEO of HGGC. “We are happy to back a management team that is eager to execute on our acquisition strategy while continuing to drive organic growth.”