HGGC, a leading middle market private equity firm, today announced that it successfully assisted portfolio company PCF Insurance (“PCF”) in the acquisition of four regional brokerages since HGGC invested in the business in April.
The four acquisitions, in addition to the nine completed since January 1, will diversify PCF’s product expertise, add great talent to the organization and expand its reach to thousands of new clients.
The brokerages that have joined PCF are: First Fidelity Brokerage, Horizon Insurance, Moulton Insurance, and Avidity Insurance.
“PCF’s fast start is the result of a cohesive, shared vision with Peter and his team, and an efficient execution playbook driven by decades of shared industry experience,” said John Block, Partner at HGGC. “Together, we are building a platform that can offer win-win partnerships to brokers across the country as the insurance industry enters a hardening market.”
HGGC is a leading middle-market private equity firm with $4.3 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed more than 180 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $26 billion.
Founded in 1987 and headquartered in Woodland Hills, CA, PCF is a full-service insurance brokerage firm which provides complete risk management solutions with a broad array of property & casualty, life and health, employee benefits and workers’ compensation insurance products. Due to its scale and growth, PCF is a top 50 broker in the United States by revenue
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