Antares Capital and Golub Capital Lead $500m Financing Round for Patriot Growth Insurance

Patriot Growth Insurance Services, LLC (Patriot), one of the nation’s largest and fastest-growing insurance agencies, announces it has secured a new $500m 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.

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“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.”

Source: CISION PR Newswire

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