Davies has ‘no limits’ to acquisitive ambition

Dan Saulter

Davies Group said it doesn’t have “limits to its ambition” over acquisitions, as the company saw earnings grow by 47%.

Dan Saulter, CEO of Davies said the firm would look at growing the business internationally in the next 18 months, but wouldn’t rule out further UK deals.

The company has been linked with the potential acquisition of the claims side of Ardonagh-owned Direct Group, but Saulter declined to comment.

“We don’t comment on market speculation,” he said. “What I would say about Direct Group is that it has an excellent reputation and some fantastic clients, and a great management team in Russell Crewe.”

He added: “We will be announcing more news in the UK, which is an important market and one we can continue to keep growing in.”

His comments come as the company released its H1 results, which saw revenue increase by 41% to £77.7m and Ebitda grow by 47% to £15.4m. However organic growth remained flat at 11%.

Saulter, pictured, said the business had an active pipeline of M&A targets, and wasn’t limited by ‘warchest’ of available funds.

“I don’t really look at it in that lens,” he said. “We are an important investment for HGGC, but I wouldn’t say we’re a big investment for them.

“In terms of our ability to deploy capital both from our own reserves but also from our shareholder, we don’t have limits on our ambition. We look for great deals in the market.

“We are looking for deals that will add depth to our existing services, and where appropriate, breadth. “

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