On November 11, 2025, Davies, the UK-based specialist professional services and technology company serving the global insurance market, agreed to acquire all of the issued and outstanding shares in the capital of SCM Insurance Services Inc., Canada’s largest claims processing and risk solutions provider.
The deal represents Davies’ largest strategic M&A addition to date and will allow the fast-growing tech-enabled firm to provide a full nationwide service across Canada, in addition to adding SCM’s US operations to Davies’ existing US footprint. SCM’s 1,500+ strong team of professionals across Canada and the US will join Davies as part of the deal.
The addition of ClaimsPro, IPG, and Pario will strengthen Davies’ existing risk management, TPA and end-to-end claims solutions offering across North America, adding specialized services for insurers, brokers, MGAs, Lloyd’s Syndicates, corporates, the public sector and captive owners.
As part of the acquisition, SCM’s existing institutional shareholders, Warburg Pincus and TorQuest Partners, will reinvest part of their proceeds and become minority shareholders in Davies, alongside Davies’ existing institutional shareholders: BC Partners, AIMCo, and HGGC. BC Partners took a majority stake in Davies in August 2021, with the business tripling annual revenues under BC’s ownership.
Cassels acted for Davies with a deal team that included Luke Woolford, Matthew Stephen, Jason (Jake) Bullen, PJ Esfandiari, Andrew Allen, Tushar Sharma, Golsa Hashemi-Ghochani, Aditi Mallavarapu, Soha Atiq, Darren Kendal and Mariana Furneri (Private Equity and M&A), Michelle McKinnon and Alessandra Fusco (Employment & Labour), Davit Akman and Dragos Flueraru (Competition & Foreign Investment), Corinne Grigoriu and Neil Burnside (Tax & Trusts), Jessica Kuredjian (Litigation), Lauren Grossman and Rachel Venturo (Banking & Specialty Finance), Ronak Shah (Information Technology & Data Privacy), Dian Howard (Intellectual Property), Orlando Silva (International Trade), Gordon Goodman, Adrianna Pilkington and Sherry Rath (Regulatory), Armen Khajetoorian and Nadia Shivratan (Real Estate & Development), Temi Otis, Anita Im and Kaitlyn Coronios (Law Clerks), and Rounaq Khoja (Articling Student).