Patriot Growth Insurance Services Secures Additional Capital to Support Rapid Growth

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Aug 09, 2022, 10:00 ET

FORT WASHINGTON, Pa., Aug. 9, 2022 /PRNewswire/ -- Patriot Growth Insurance Services, LLC (Patriot), one of the nation's largest and fastest-growing insurance agencies, announces it has secured a new 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 is led by existing lender Antares, a leading provider of innovative financing and investment solutions for private-equity-backed borrowers and investors.

Founded in 2019 by CEO and 30-year industry veteran Matt Gardner, Patriot is based in Fort Washington, Penn. Recently ranked as the 35^th largest insurance broker in the United States by Business Insurance magazine, Patriot has differentiated itself in this competitive marketplace through its unique and highly entrepreneurial model, partnering only with well-operated, high-growth agencies. Patriot is committed to fostering thoughtful collaboration among all partner agencies. This model has enabled Patriot to excel and grow aggressively, with over 1,500 employees and 120 offices in 23 states.

"Despite the economic turbulence we are currently experiencing throughout the U.S., I remain highly confident in our ability to continue attracting the best and fastest-growing agencies in the country," said Matt Gardner, Chairman and CEO of Patriot. "Our model and business strategy are truly unique, and the capital raised in this round of funding validates our approach to building a national insurance agency. We appreciate Antares' continued support in helping us meet and exceed our aggressive growth goals."

"Antares is pleased to continue our support of GI Partners and Patriot. Patriot's vision and execution with the backing of GI Partners has driven impressive growth to date and we look forward to being part of fueling Patriot's continued success," said Mathew Eaves, Senior Vice President at Antares Capital.

About Patriot Growth Insurance Services

Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot is ranked as the 35^th largest broker in the U.S. by Business Insurance. With over 1,500 employees operating in 120 locations across 23 states, Patriot's collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by GI Partners and Summit Partners. For more information, please visit www.patriotgis.com.

About Antares

With more than $50 billion of capital under management and administration as of December 31, 2021, Antares is a private debt credit manager and a leading provider of financing and investment solutions for middle-market private equity-backed borrowers and investors. Since its founding in 1996, Antares has built one of the industry's largest and longest-tenured portfolios of middle market companies and has been recognized by industry organizations as a leading provider of middle market private debt. Through its Asset Management & Funding team, Antares offers investors the opportunity to invest in collateralized loan obligations, funds and separately managed accounts. Antares is committed to championing middle market growth throughout market cycles. Doing so allows its people, partners and communities to achieve their full potential. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on LinkedIn at http://www.linkedin.com/company/antares-capital-lp. Antares Capital is a subsidiary of Antares Holdings LP, (collectively, "Antares").