Beech Tree PE LLP has confirmed the realisation of its investment in Avid Insurance through a sale to Bishop Street Underwriters, a Red Bird Capital Partners portfolio company. 

Avid is a niche multi-disciplined managing general agent based in London. This sale represents the final exit from Beech Tree PE Fund II and provides strong returns for Beech Tree, with Avid's profitability more than tripling over the course of the investment. 

The firm, with offices in London, Leeds and Hornchurch, specialises in insurance services for complex and underserved markets across sectors including travel, construction, social housing, leasehold, equine and motor sport.

Stephen Gibson said: "We have had a very successful journey with Beech Tree over the past few years and, with their support, have been able to scale the business significantly both organically and through acquisitions.”

Ben Cartwright, director at Beech Tree PE, said: "It has been a pleasure to work with Steve and the rest of the Avid management team over the past few years to build Avid into the standout business that is today. We look forward to seeing the business continue to grow as part of the Bishop Street platform."

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Sell side advisers

Corporate finance: KPMG – Mark Flenner, David Stokoe, Andrew Francis, Daniel Bagnall
Legal advisers: DLA – James Kerrigan, Chris Wilson, Samuel Jones, Jenni Entwisle
Financial DD: Deloitte - Emma Johnston, Brinley Anderson
Tax DD: A&M – Nick Walton, Ryan Farr

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