Clearwater International advises Sionic on its sale to Davies

Clearwater International has advised Livingbridge and the shareholders of Sionic, the global consulting firm specialising in financial services on its sale to BC Partners backed, Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets.

Sionic is made up of expert-led teams of specialists in banking, asset and investment management, financial markets infrastructure, wealth management, insurance, and reinsurance. The firm offers multi-disciplinary, multi-capability expertise across six core areas: business strategy, operational excellence and improvement, technology transformation and digitisation, international regulatory compliance, risk, finance and control, leadership, talent, and cultural transformation.

The firm’s 340 strong team operate across: the UK, US, Canada, Switzerland, India and Spain. Sionic will join Davies’ Consulting and Technology practice headed by CEO Mark Grocott. Sionic CEO, Craig Sher, will continue to lead the day-to-day operations and will join Davies’ Executive Leadership Team, with the wider team continuing in their roles within Davies.

In recent years Davies has diversified and deepened its Consulting and Technology capability to provide customer experience, resourcing and learning solutions, as well as data and speech analytics, robotic process automation, legacy platform modernisation and product development for its 1,000+ insurance and highly regulated clients.

Globally Davies’ 5,000+ colleagues operate across Bermuda, Canada, Ireland, the UK and US. The business delivers professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation and change management.