Avantia completes £57m MBO
Firm states investment will aid organic and acquisition growth.
Avantia has undertaken a £57m management buy-out backed by private equity firm ECI Partners.
In early 2013, Avantia hired ex-Insurecom boss Phillip Walter as CEO, with a mandate to grow the business and continue to invest in technology and research and development.
The deal marks ECI's 13th investment in its most recent buyout fund, ECI 9, and the fifth transaction in the past 14 months.
According to the insurance business, which operates the online consumer home insurance brand HomeProtect
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