Beech Tree Private Equity has sold its stake in Avid Insurance Services to Bishop Street Underwriters, part of Red Bird Capital Partners, marking the final exit from its second fund.
Avid, a London-based managing general agent with additional offices in Leeds and Hornchurch, operates across specialist markets including travel, construction, social housing, leasehold, equine, and motorsport. During Beech Tree’s investment period, Avid’s profitability more than tripled through a combination of organic growth and strategic acquisitions.
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 it is today. We look forward to seeing the business continue to grow as part of the Bishop Street platform.”
The transaction closes a successful chapter for Beech Tree, which backed Avid to scale its business model and expand into underserved segments of the insurance market. The sale also strengthens Bishop Street’s presence in the UK specialty insurance sector, aligning with its strategy to acquire high-performing, niche underwriting businesses.
