HGGC Acquires PCF Insurance
April 1, 2020
HGGC, a Palo Alto-based middle-market private equity firm, has completed the acquisition of PCF Insurance, a Woodland Hills, California-based full-service insurance brokerage. Management, employee owners and existing investor BHMS Investments retained minority stakes; HGGC said it will use its insurance and M&A experience to accelerate PCF's aggressive add-on acquisition strategy and organic growth.
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Related Acquisitions
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PCF Insurance Services Acquires Insurance Business of Kentucky Health Solutions
August 29, 2024
Insurance
PCF Insurance Services, a top-20 U.S. insurance brokerage headquartered in Lindon, Utah, has acquired the insurance business of Kentucky Health Solutions in Lexington, Kentucky. The Kentucky Health Solutions team will join PCF’s Louisville-based Maverick Insurance Group to expand local service offerings and deepen PCF’s health, life and Medicare advisory capabilities in the region.
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PCF Insurance Services Acquires MK Insurance Group (Hoover, AL)
April 2, 2024
Insurance
PCF Insurance Services has acquired the insurance business of MK Insurance Group, a third-generation, family-owned commercial and personal-lines agency based in Hoover, Alabama. The deal gives PCF its first physical location in Alabama and expands the brokerage's specialty capabilities in construction, property management/commercial real estate and signage industries.
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PCF Insurance Services Secures $500M Preferred Equity Investment Co-led by Carlyle Global Credit and HGGC
February 17, 2023
Insurance
PCF Insurance Services, a top-20 U.S. insurance brokerage headquartered in Lehi, Utah, received a $500 million preferred equity investment co-led by Carlyle Global Credit and HGGC, with participation from Owl Rock (a division of Blue Owl) and Crescent Capital. The transaction values PCF at $4.7 billion and will support continued growth of its agency-centric platform (PCF serves 415,000+ clients and employs ~3,100 across 38 states).
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PCF Insurance Services Acquires Apple Insurance and Financial Services
August 24, 2022
Insurance
PCF Insurance Services, a top-20 U.S. insurance brokerage headquartered in Lehi, Utah, has acquired Florida-based Apple Insurance and Financial Services, an individual health and Medicare-focused insurance agency based in South Florida. Terms were not disclosed; the deal expands PCF's Agency Partner footprint and strengthens its presence in the competitive Florida individual health and Medicare market.
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PCF Insurance Services Management- and Owl Rock-led Buyout From HGGC
November 2, 2021
Insurance
PCF Insurance Services completed a management- and partner-led buyout from sponsor HGGC, led by CEO Peter C. Foy and partner investor Owl Rock (a division of Blue Owl), with strategic advisory support from Sica Fletcher. The transaction values PCF at more than $2.2 billion, included financing in excess of $1 billion, and leaves HGGC with a minority stake as PCF pursues continued growth.
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PCF Insurance Services Acquires Grosslight Insurance, Inc.
April 16, 2019
Insurance
PCF Insurance Services has completed the acquisition of Grosslight Insurance, Inc., a long-established insurance agency headquartered in the Westwood neighborhood of Los Angeles, California. The deal expands PCF's Southern California presence and combines Grosslight's property & casualty expertise with PCF's employee benefits capabilities; PCF is backed by BHMS Investments, LP which has supported the firm's roll-up strategy.
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