FORT WASHINGTON, PA — Patriot Growth Insurance Services, LLC, has recently announced a significant boost to its aggressive expansion strategy with the securement of a $500 million financing round. The funds represent a substantial increase in Patriot’s existing debt facility and will be used to support its organic growth and acquisition plans.
The financing round was led by Golub Capital and jointly arranged by Antares Capital, both of which are existing lenders to Patriot. This influx of capital underscores the strong confidence these financial institutions have in Patriot’s business model and future prospects.
Established in 2019 by Chairman and CEO Matt Gardner, and backed by private equity firms GI Partners and Summit Partners, Patriot has made a name for itself in the highly competitive insurance marketplace. The company is headquartered in Fort Washington, Pennsylvania, and was recently ranked as the 26th largest insurance broker in the United States by Business Insurance magazine.
Patriot sets itself apart with its unique operating model, partnering exclusively with high-growth property/casualty and employee benefits insurance agencies. The company encourages collaboration among all partner agencies, enhancing client connectivity and creating better career opportunities for its over 1,700 employees spread across 130 offices in 26 states.
Despite the economic turbulence in the U.S. and worsening geopolitical conditions abroad, Patriot continues to attract top-tier, rapidly growing agencies. “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,” said Matt Gardner. “We appreciate the continued support of our lending partners in helping us exceed our aggressive growth goals.”
Spyro Alexopoulos, Co-Head of Direct Lending at Golub Capital, expressed his delight at the ongoing partnership with Patriot and GI Partners. “The flexibility we can provide to growing companies like Patriot further demonstrates the strength and scalability of the Golub Capital platform,” he said.
This latest round of financing marks a significant milestone for Patriot Growth Insurance Services, bolstering its position as one of the leading insurance brokers in the United States and paving the way for future growth and acquisitions.
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