Permira Debt Managers to Exit Davies Group

The U.K.-based Davies Group provides professional services and technology solutions, including claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation and change management for the insurance industry. Reorg’s EMEA Middle Market team reported in mid-March that the Davies Group’s incumbent lender Permira Debt Managers is exiting its position amid BC Partners’ acquisition of the company, sources told Reorg. Blackstone Credit provided a £950 million debt package to support the transaction. Permira Debt Managers did not participate in the acquisition financing but is getting repaid, sources said. Click through to read the most recent update.