FORT WASHINGTON, Pa., Nov. 28, 2023 /PRNewswire/ — Patriot Growth Insurance Services, LLC (Patriot), one of the nation’s largest and fastest-growing insurance agencies, announces it has secured a new $500 million round of financing to support its aggressive organic growth and acquisition strategy. The additional capital raised represents a significant expansion of Patriot’s existing debt facility. The raise was led by Golub Capital and jointly arranged by Antares Capital, both existing lenders to Patriot.
Founded in 2019 by Chairman and CEO Matt Gardner and backed by private equity firms GI Partners and Summit Partners, Patriot is based in Fort Washington, Penn., and was recently ranked as the 26th largest insurance broker in the United States by Business Insurance magazine. Patriot has differentiated itself in an intensely competitive marketplace through its unique and highly entrepreneurial operating model, partnering exclusively with thriving, high-growth property/casualty and employee benefits insurance agencies. Patriot fosters thoughtful collaboration among all partner agencies, enabling greater client connectivity and enhanced career opportunities for its 1,700+ employees in 130 offices across 26 states.
“Despite the current economic turbulence throughout the U.S., and worsening geopolitical conditions abroad, Patriot continues to attract the best and fastest-growing agencies in the country,” said Matt Gardner, Chairman and CEO of Patriot. “Our business model is truly unique, and the capital raised in this round of funding validates our approach to building a national insurance services platform. We appreciate the continued support of our lending partners in helping us exceed our aggressive growth goals.”
“We have a deep partnership with Patriot and GI Partners and are delighted to once again support Patriot’s continued growth,” said Spyro Alexopoulos, Co-Head of Direct Lending at Golub Capital. “The flexibility we can provide to growing companies like Patriot further demonstrates the strength and scalability of the Golub Capital platform.”
About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property and casualty agencies across the United States. Patriot is ranked as the 26th largest broker in the U.S. by Business Insurance and has been named to the 2023 Inc. 5000 list of fastest-growing companies. With more than 1,700 employees operating in over 130 locations across 26 states, Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by GI Partners and Summit Partners. For more information, please visit patriotgis.com or contact Tammy Cameron at [email protected].
About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative, and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.
As of October 1, 2023, Golub Capital had over 850 employees and over $60 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in New York, Chicago, Miami, San Francisco, and London. For more information, please visit golubcapital.com.
SOURCE Patriot Growth Insurance Services
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.