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 providers firm that serves greater than 415,000 shoppers. Since executing its management-led buyout in November 2021, the corporate has accomplished greater than 100 companion transactions and elevated its income to $700 million, whereas sustaining natural progress 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,” mentioned Peter C. Foy, founder, chairman and CEO of PCF. “Now we have constructed our agency-centric enterprise mannequin round long-term, sustainable progress, and I’m proud that PCF is positioned to proceed investing within the progress of our businesses, particularly throughout these latest instances of financial uncertainty. We’re grateful for the contributions of our companion traders who’ve supported us with the distinctive alternative to speed up progress.”
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“PCF Insurance coverage Providers has skilled super progress because of its distinctive client- and employee-centric working mannequin,” mentioned Gary Jacovino, managing director for Carlyle World Credit score. “We’re delighted to be partnering with an distinctive administration group and group of company companions, and are assured PCF will obtain its long-term strategic progress goals with the help of Carlyle World Credit score, HGGC and our companion 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,” mentioned 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 World Credit score platform, to assist gas its subsequent part of progress.”
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