Avid agrees sale of majority stake to Beech Tree
The private equity move sees co-founder Gary Edmondson leave the managing general agent.
Avid Insurance Services, a specialist MGA, has sold a majority stake to Beech Tree Private Equity (BTPE).
According to a statement, Avid managing director Stephen Gibson will continue to run the business with commercial director John Inwood.
Inwood said the investment from BTPE will give Avid the firepower to “accelerate our growth and build on the investment we’ve made during the past year in both people and systems.”
Gary Edmondson, a director and co-founder of Avid, which was founded in
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