Private equity house takes "significant stake" in Validus
Private equity house LDC is set to take a "significant stake" in motor claims business Validus-IVC.
The move will see Validus chairman Philip Easter and two members of its executive steam step down.
Mike Srokowski, chief executive of the Norwich-based business, is set to stay on as CEO.
He said the investment is capable of taking the company "up several more gears".
Mr Srokowski explained: "LDC's investment illustrates their confidence in our ability to exploit the numerous opportunities that exist for profitable growth."
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Mr Easter will be replaced by Paul Hewitt as chairman while
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