Fri, 04 Feb 2022 | BUSINESS SALE
Specialist professional services and technology business Davies has acquired a property technology and surveying, Building Validation Solutions Ltd (BVS) for an undisclosed amount.
Bolton-based BVS offers end-to-end property and subsidence claims validation services will now become part of the multinational company which has over 5,500 staff and offices in the UK and Ireland as well as Spain, Switzerland, Bermuda,â¯the US, Canada and India.
Chris Brown, managing director of BVS, said: "We're delighted to be joining forces with Davies. Our shared vision of disrupting traditional claims models through investment in automation and digital transformation was an important factor for us and enables us to take a compelling combined proposition to our clients."
BVS, which has a workforce of over 70 people, has its own highly advanced IT system Metrix, a web-based claims management system. This asset is considered to be industry-leading and has also been included in the deal which will see BVS become part of Davies's claims solutions arm.
Andrew Page, the solicitor at Abacus that advised the shareholders of BVS on the deal, said: "This is a major transaction that will ensure the firm’s proprietary technology can scale up quickly across multiple geographies whilst presenting numerous career opportunities for the firm's skilled and dedicated team.
"All parties burnt the midnight oil to get this over the line and I’m delighted for the shareholders."
Abacus Solicitors concluded the sale and shareholders were also advised by IMAS Corporate Finance.
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