PCF Insurance Services Completes Management & Partner-led Buyout From Sponsor HGGC; Company Valuation In Excess Of $2.2 Billion

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PCF is a leading retail insurance brokerage offering a diverse range of commercial lines, personal lines and employee benefits products serving more than 220,000 customers. Since the HGGC investment in 2020, PCF has mushroomed, completed over 100 partner deals and is currently on track to finish in 2021 as one of the top three acquirers in the industry. Now, as a top 20 broker, PCF expects to close out the year 400 million dollars In revenue and more than 1,700 employees.

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Foy, who founded the company, said: “This transaction represents a huge milestone for the business, and most importantly for our partners. We have evaluated the many avenues it can support the pace at which we seek to grow, with this option providing the unique ability to control our destiny driven only by Doing what is best for our partners. HGGC has helped support PCF’s high growth plan and we are happy that they will continue to remain as shareholders as we continue our mission to achieve high performance and entrepreneurial mindset as partners to achieve our ambitious goals and strategies.”

Lukas Spiss, Managing Director of Owl Rock, a division of Blue Owl, stated, “We are pleased to offer a flexible capital solution that leverages our investment experience in private markets that can position PCF for sustainable long-term growth. We look forward to continuing to work with Peter and HGGC during years ahead and we are excited about what we can achieve together.”

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HGGC Partner, John Block, added: “HGGC is extremely proud and impressed by the pace of growth that PCF has demonstrated since our partnership, and we are excited to continue supporting Peter and his team as PCF continues to grow as an important and influential player in the US insurance landscape.”

About PCF Insurance Services
Headquartered in Leahy, UtahPCF Insurance Services, Inc. is a leading full-service advisory and insurance brokerage firm offering a broad range of business, life, health, employee benefits and workers compensation solutions. One of the top 30 US brokers, PCF’s agency-centric operating model and entrepreneurial environment underpin its massive growth profile, providing partner coordination through share ownership, incentives and critical leadership resources to more than 1,700 employees across the United States. More information can be found at www.pcfinsuranceservices.com.

About the blue owl
Blue Owl is an alternative asset manager that provides investors with access to direct lending strategies and GP Capital Solutions through a variety of products. The company’s breadth of offerings and permanent capital base allow it to offer an integrated, comprehensive platform of capital solutions to participants across the private market ecosystem, including alternative asset managers and private mid-market firms. The company had nearly $62.4 billion of assets under management as of June 30, 2021. Blue Owl’s management team consists of seasoned investment experts with over 25 years of experience building alternative investment businesses. Blue Owl has approximately 250 employees across the Direct Lending and GP Capital Solutions divisions and has six offices globally. For more information, please visit us at www.blueowl.com.

About HGGC
HGGC is a leading mid-market private equity firm with more than $5.6 billion in cumulative capital commitments. depends on Palo Alto, California.HGGC has a distinctive investment approach that enables the company to acquire and acquire scalable business through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has completed more than 300 platform investments, additional acquisitions, recapitalizations, and liquidity events with a total transaction value of more than 41 billion dollars. More information, including a complete list of current and past portfolio companies, is available at hggc.com.

SOURCE PCF Insurance Services

Related links

http://www.pcfinsuranceservices.com

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