PCF Insurance, a commercial insurance brokerage backed by middle market private equity firm HGGC, has officially bucked the pandemic-related broker M&A slump, sealing four deals since April 01.
PCF been on the acquisition train for many months. The four regional deals announced today – the first set made since HGGC invested in the business in April – add to the nine acquisitions the brokerage completed in the first quarter, taking its current 2020 deal count to 13.
The four brokerages to join PCF since April are: First Fidelity Brokerage, Horizon Insurance, Moulton Insurance, 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’re building a platform that can offer win-win partnerships to brokers across the country as the insurance industry enters a hardening market.”
PCF CEO and chairman Peter Foy added: “PCF’s story is resonating in the market, evidenced by our success rate with new brokerage partners. The PCF model offers a unique combination of accelerated growth opportunities and continued entrepreneurship that is highly attractive to the agency owner who believes his or her agency’s future is even brighter than the past.”
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