Transaction

Clearwater advises Beech Tree Private Equity backed Avid Insurance Services on raising debt facilities to support the acquisition of Incorporated Insurance Group Ltd

Transaction

Beech Tree backed Avid Insurance raised debt finance from Shawbrook Bank and Clydesdale Bank to support the acquisition of IIGL

Acquisition finance

Undisclosed

Role

Adviser to Beech Tree backed Avid Insurance on raising debt facilities to support the acquisition of IIGL

Sector

Financial Services

Region

UK

Clearwater’s Debt Advisory team has advised Beech Tree Private Equity (Beech Tree) backed managing general agent (MGA), Avid Insurance Services Ltd (Avid), on its acquisition of specialist construction MGA Incorporated Insurance Group Ltd (IIGL).

Avid, formed in 2006 with offices in Leeds and London, is an established general insurance intermediary and MGA, holding both Lloyd’s cover holder and Broker status. Avid places a wide variety of personal and commercial products into the market and enjoys a number of successful long-term relationships with capacity providers and distributers.

The transaction sees Avid take a majority stake in IIGL, increasing the gross written premiums of the Avid Group up to €87m (£75m) and adds additional product diversification in adjacent markets.

Clearwater helped raise debt facilities from Shawbrook Bank and Clydesdale & Yorkshire Bank to support the acquisition of IIGL and to provide Avid with committed facilities to support further acquisition opportunities over the next couple of years. Clearwater also supported Beech Tree on the primary buy out of Avid in 2019.

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Advisers

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