Davies, a UK-based specialist professional services and technology company serving the global insurance market, has signed an agreement to acquire SCM Insurance Services, Canada's largest claims processing and risk solutions provider.

The acquisition encompasses SCM's three operating entities: ClaimsPro, Canada's leading claims adjusting firm; IPG, a third-party claims administrator; and Pario, a forensic engineering and consulting business.

SCM's 1,500 professionals across Canada and the United States will join Davies as part of this strategic transaction.

SCM's existing institutional shareholders, Warburg Pincus and TorQuest Partners, will reinvest part of their proceeds and become minority shareholders in Davies, alongside existing institutional shareholders BC Partners, AIMCo, and HGGC.

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).