Investment firm recapitalizes Patriot Growth
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A private investment firm said Tuesday it has recapitalized broker Patriot Growth Insurance Services LLC.
Terms of the capitalization were not disclosed.
Patriot was founded in January 2019 by CEO Mat Gardner, according to the statement by San Francisco-based investment firm GI Partners LC.
The statement said investment firm Boston-based Summit Partners LP, which invested in Patriot in 2019, and Patriot management will maintain significant ownership positions in the company.
According to Business Insurance’s directory, Patriot Growth ranked 37th among the top U.S. brokers in 2020, with $124.4 million in U.S. brokerage revenue.
Patriot made 18 acquisitions last year.
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