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Ufton Associates set to prosper under new ownership
Highly-respected specialist liability and construction loss aduster Ufton Associates is adjusting to new ownership following its sale to Davies Group by international M&A specialist BCMS Corporate.
The practice, which was founded in 1990 by shareholders Patrick Austin and Nick Harrison, to investigate (and settle) construction and liability insurance claims, has offices in Central London and Warwick.
Today, Ufton Associates deals with liability claims for many of the London Boroughs, and Councils in the South East of England and the Midlands, via insurers and directly for the Authorities. It also acts as loss adjusters for a number of construction underwriters on losses throughout the UK. The directors have been keen to expand the business, and recently approached BCMS Corporate for help identifying a buyer with the resources necessary to help support Ufton Associates’ future plans – resulting in the sale earlier this month.
The new owners are the Davies Group. Based in the UK, the Davies Group are one of the country’s leading providers of total claims solutions across the insurance sector. Under the terms of the sale, all staff have been retained by Davies, including Directors Patrick Austin and Nick Harrison.
Says Mike O’Connor, Deal Leader at BCMS Corporate: “We are absolutely delighted to have completed the sale of Ufton Associates, and are extremely confident that with the backing of Davies, the business can continue to go from strength to strength in its field.”
Adds Nick Harrison, Director of Ufton Associates: “We are very pleased to be joining forces with Davies, and believe that the sale provides everyone within the organisation with the ideal platform from which to deliver our services in the future.”