Loss adjuster the Davies Group is raising finance to fund expansion plans into a new handling process for subsidence, among other projects.

Malcolm Edwards, partner at the firm, confirmed that the group had "various plans" to expand its processes. "We are looking into subsidence handling and other projects, which we've not yet disclosed," he said.

This announcement comes amid rumours of a management buy-out at the group - speculation that Edwards quashed. "We have partners at the group, so a management buy-out wouldn't be an option," he said.

It is understood Davies Group turnover is £30m.

The Davies Group focuses on sectors including construction and engineering and offers a liability claims service, including public, employers and third party liability.