Patriot Growth secures $500 million in debt financing

Patriot Growth has secured a new $500 million round of financing to support its “aggressive organic growth and acquisition strategy.”

The additional capital 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, PA and was recently ranked as the 26th largest insurance broker in the US by Business Insurance magazine. It counts 1,700+ employees in 130 offices across 26 states.

“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. 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.” – Matt Gardner, chairman and CEO of Patriot.

“We have a deep partnership with Patriot and GI Partners and are delighted to once again support Patriot’s continued growth. The flexibility we can provide to growing companies like Patriot further demonstrates the strength and scalability of the Golub Capital platform.” – Spyro Alexopoulos, co-head of Direct Lending at Golub Capital.