MDD Is Joining Forces With Davies

  • Date13 Feb, 2024

LONDON, UK – 13 February 2024 – Davies, the leading specialist professional services and technology business serving insurance and highly regulated markets, today announced that it has signed a deal to acquire the leading international forensic accounting firm, Matson, Driscoll & Damico (“MDD”).

MDD is one of the largest specialist forensic accounting firms in the world, serving the insurance and legal sectors. MDD specialises in assessing economic damages in relation to insurance claims, business disputes, natural or man-made catastrophes, business interruption, fraud and product recalls, expert litigation support, business valuations and shareholder disputes. Its team of 330+ professionals serve 1,000+ international clients from 40+ office locations across the globe, including North America, Latin America, Europe, Asia, and Australasia.

MDD will form a new business line within Davies’ Global Solutions division, establishing a new global forensic accounting capability for the firm.  Davies Global Solutions also incorporates the firm’s Consulting, Technology and Insurance Solutions businesses, and is led by CEO, Mark Grocott. Paul McGowan, CEO of MDD, will report directly to Mark and join his Global Solutions executive team.

Paul McGowan, CEO, MDD said: “MDD is excited to join Davies where MDD will remain focused as a business providing objective expert advice serving the litigation, economic, insurance and forensic accounting markets.  In Davies, we have found a like-minded business offering expanded professional growth opportunities for our employees, enhanced capabilities to better serve our clients through continued expansion across global markets, investment in technology driven solutions, while maintaining a platform to attract similarly aligned entrepreneurs.”

Over the past 10 years Davies has consistently delivered strong organic growth alongside a program of carefully targeted M&A that has enabled it to grow revenues more than 25-fold over that period.  In the last five years, Davies has executed a strategy of adding new capabilities, investing in technology & transformation, and adding new geographies for its operations and delivery.

Through the addition of leading forensic accounting expertise through the MDD acquisition, Davies will be able to offer its clients in the insurance, and other highly regulated markets, access to independent and leading forensic accounting solutions across five continents, complementing Davies’ wide range of solutions across the claims, insurance management, consulting, and technology areas.

Dan Saulter, Group CEO, Davies said: “It is very exciting to welcome Paul and the whole MDD team to Davies.  MDD has an enviable international reputation for expertise in the field of forensic accounting alongside delivering excellent results for its insurance and wider client base.

“This deal is a further demonstration of our ambition to add new capabilities, invest in pioneering technologies, and in top talent across the world to provide our clients with end-to-end services across the entire insurance lifecycle, with Davies as their strategic partner.”

Following the addition of MDD, Davies boasts 8,000 colleagues operating from 20 countries, including large operational centres in the UK and the U.S. and MDD expands on the growing Asia Pacific presence. The business delivers professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation & risk, dispute resolution, customer experience, human capital, digital transformation & change management. Today the group serves more than 1,500 insurance, financial services, public sector, and other highly regulated clients.


Media contact:   

Sarah Allen, PR Manager, Davies

About Davies 

Davies delivers specialist professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation & risk, customer experience, human capital, digital transformation & change management. In February 2023 Davies announced it had simplified its operations and aligned the business across three operating units: Davies Global Solutions, Davies UK & Ireland, and Davies U.S. Davies has a 8,000 strong team of professionals operating across ten countries, including the UK & the U.S., with headquarters in the City of London. Davies’ investors are BC Partners, HGGC, AIMCo (acting on behalf of certain of its clients), and Davies’ employees following BC Partners majority investment in March 2021, HGGC’s investment in January 2017 and AIMCo’s investment in January 2019. Over the past ten years Davies has grown its annual revenues more than 25-fold, invested heavily in research & development, innovation & automation, colleague development, and client service. Today the group serves more than 1,500 insurance, financial services, public sector, and other highly regulated clients. In the past year Davies has added more than 200 new accounts to its organic platform. In addition, Davies has successfully broadened and deepened its operations and digital capabilities via targeted acquisitions. Since the start of 2017 Davies has acquired: Cynergie, CMSL, Ambant, ServiceTick, TLSS, R&Q’s insurance services business, Ember, Direct Group’s claims businesses, Veriphy, USA Risk Group, TMS, GBB, Banwells, Frontier, FWD, ASC, Thornton Group, Keoghs, Codebase8, Citadel & Cedar Consulting, ContactParners, TriPlus, Johnson Claim Service, Vehicle Replacement Group, BMTS, Wakely Actuarial, Northshore International Insurance Services, DMS, NPA, Littleton, Grovelands, IAS, Asta, IRS, Sionic, Merlinos, BVS, Worksmart, ProAdjust, Johns Eastern, ClaimPilot, MVP Group, Afirm, Ortac Underwriting Agency’s (“Ortac”) insurance management services portfolio, American Claims Management, Preferred Governmental Claims Services, USIS and ICA. More information is available at

About BC Partners 

In March 2021 Davies announced that BC Partners had signed a definitive deal to take a majority stake in the business, to support Davies next phase of international expansion and continued digital transformation. The BC Partners deal closed early in August, following receipt of regulatory approvals. BC Partners is a leading investment firm with over €40 billion in assets under management across private equity, private debt, and real estate strategies. Established in 1986, BC Partners has played an active role for over three decades in developing the European buy-out market. Today BC Partners integrated transatlantic investment teams work from offices in Europe and North America and are aligned across our four core sectors: Healthcare, TMT, Business Services & Industrials, and Consumer. Since its foundation, BC Partners has completed over 126 private equity investments in companies with a total enterprise value of over €160 billion and is currently investing its eleventh private equity buyout fund. For more information, please visit

About HGGC  

HGGC is a leading middle-market private equity firm with $4.3 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed more than 130 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of nearly $22 billion. More information, including a complete list of current and former portfolio companies is available at

About Alberta Investment Management Corporation (“AIMCo”)  

AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than C$115 billion of assets under management. AIMCo was established on January 1, 2008, with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 31 pension, endowment and government funds in the Province of Alberta. AIMCo’s head office is located in Edmonton, Alberta, with additional offices located in Toronto, London, and Luxembourg. AIMCo’s Private Equity team comprises a dedicated group of experienced investment professionals and manages a private equity allocation of approximately C$6.0 billion. More information is available at