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BC Partners Nears Deal for Insurance Service Firm Davies

  • Investment firm acquiring majority stake in U.K. business
  • Transaction adds to flurry of European private equity deals
Updated on

BC Partners agreed to take over insurance service company Davies, as it bets on fast-growing demand for outsourcing in the financial industry.

The private equity firm signed a definitive agreement to buy a majority stake in London-based Davies, it said in a statement Tuesday, confirming an earlier Bloomberg News report. The deal values Davies at about 1.2 billion pounds ($1.7 billion) including debt, people familiar with the matter have said.