Warburg Pincus and TorQuest Partners to Invest in Davies Group

Paul, Weiss is advising Warburg Pincus and TorQuest Partners owned SCM Insurance Services on its preferred equity investment in BC Partners’ Davies Group as part of Davies’ acquisition of SCM. Davies is a leading UK-based insurance services firm and SCM is Canada’s largest claims processing and risk solutions provider. The combined company is reportedly valued at approximately $4.3 billion.

Under the terms of the transaction, Warburg Pincus, TorQuest and other SCM shareholders will reinvest part of their proceeds from the sale and become minority shareholders in Davies, alongside Davies’ existing shareholders BC Partners, AIMCo and HGGC.

The Paul, Weiss team is led by corporate partners Tim Cruickshank and Oliver Marcuse, and includes partners Ben Steadman and Eric Wedel, and tax partners Robert Holo and Deeksha Rathi.