At the time of the funding, the valuation of PCF Insurance was $4.7 billion.
PCF Insurance is a threat administration, advantages design, and insurance coverage brokerage providers 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 progress of 10% by year-end 2022. The firm has greater than 3,100 workers throughout 38 states.
“This transaction marks a significant milestone in our pursuit of building a premier insurance brokerage firm in the US,” stated Peter C. Foy, founder, chairman and CEO of PCF. “We have built our agency-centric business model around long-term, sustainable growth, and I’m proud that PCF is positioned to continue investing in the growth of our agencies, especially during these recent times of economic uncertainty. We are grateful for the contributions of our partner investors who have supported us with the unique opportunity to accelerate growth.”
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“PCF Insurance Services has experienced tremendous growth as a result of its unique client- and employee-centric operating model,” stated Gary Jacovino, managing director for Carlyle Global Credit. “We are delighted to be partnering with an exceptional management team and group of agency partners, and are confident PCF will achieve its long-term strategic growth objectives with the support of Carlyle Global Credit, HGGC and our partner investors.”
“We continue to be impressed with the growth and operational advancements PCF has achieved since the onset of our partnership in 2020,” stated Matt Roesch, principal of HGGC and board member at PCF. “We elected to continue as minority shareholders after the management buyout in 2021 because we see a very bright future for the business, and we are thrilled to extend our partnership with PCF, working in collaboration with Carlyle’s Global Credit platform, to help fuel its next phase of growth.”
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