On the time of the funding, the valuation of PCF Insurance coverage was $4.7 billion.
PCF Insurance coverage is a threat administration, advantages design, and insurance coverage brokerage companies firm that serves greater than 415,000 purchasers. Since executing its management-led buyout in November 2021, the corporate has accomplished greater than 100 accomplice transactions and elevated its income to $700 million, whereas sustaining natural development of 10% by year-end 2022. The corporate has greater than 3,100 workers throughout 38 states.
“This transaction marks a major milestone in our pursuit of constructing a premier insurance coverage brokerage agency within the US,” stated Peter C. Foy, founder, chairman and CEO of PCF. “Now we have constructed our agency-centric enterprise mannequin round long-term, sustainable development, and I’m proud that PCF is positioned to proceed investing within the development of our companies, particularly throughout these current instances of financial uncertainty. We’re grateful for the contributions of our accomplice traders who’ve supported us with the distinctive alternative to speed up development.”
Learn subsequent: PCF acquires TCU Insurance coverage Company
“PCF Insurance coverage Providers has skilled super development because of its distinctive client- and employee-centric working mannequin,” stated Gary Jacovino, managing director for Carlyle International Credit score. “We’re delighted to be partnering with an distinctive administration workforce and group of company companions, and are assured PCF will obtain its long-term strategic development aims with the assist of Carlyle International Credit score, HGGC and our accomplice traders.”
“We proceed to be impressed with the expansion and operational developments PCF has achieved for the reason that onset of our partnership in 2020,” stated Matt Roesch, principal of HGGC and board member at PCF. “We elected to proceed as minority shareholders after the administration buyout in 2021 as a result of we see a really vivid future for the enterprise, and we’re thrilled to increase our partnership with PCF, working in collaboration with Carlyle’s International Credit score platform, to assist gasoline its subsequent section of development.”
Have one thing to say about this story? Tell us within the feedback beneath.