A Travers Smith team led by private equity partner Edmund Reed has advised ECI Partners LLP on its investment in the £57m management buy-out of Avantia Insurance.

Avantia, which operates the online consumer home insurance brand HomeProtect, has experienced significant growth to date based on its innovative use of proprietory and third party software which enables it to offer home insurance to households which are typically considered "difficult to insure".

The acquisition was conditional upon the Financial Conduct Authority approving the change of control of the operating entity Avantia Insurance Limited.

The Travers Smith team also included corporate partners Ian Shawyer and Lucie Cawood, corporate associates Priya Chaudhuri, Jamie Hamilton and Joanna Strycharczyk, tax partner Kathleen Russ and tax associate Silvana Corrieri, banking partner Andrew Gregson and financial services and markets partner Tim Lewis and associate Matthew Hodgson.

The founder shareholders were advised by Squire Sanders and management were advised by Mishcon de Reya.