By Ryan Hewlett

May 22 - (The Insurer) – UK insurance services firm Davies has secured new credit facilities of 275 million pounds ($370 million) from Blackstone as it seeks to accelerate its organic and M&A growth strategy.

The new senior facilities, provided by existing lead lender Blackstone Credit & Insurance, will be used to fund the firm’s global M&A activity, its investment in GenAI and automation and an acceleration in organic growth, Davies said in statement on Thursday.

Davies said the funds will also be used to expand its service offering and enter new geographies across North America, and the APAC and EMEA regions.

In addition, Davies said it was able to improve terms across its overall credit facilities, reflecting its increasing global scale and diversified revenue base, with annual pro forma revenues expected to top 1 billion pounds for the first time in 2025.

Davies has completed more than 50 acquisitions over the past decade, more recently focusing on adding solutions in North America.

The group is majority owned by funds advised by BC Partners, with minority investment from AIMCo and HGGC, alongside Davies’ senior management and its wider team.