GI Partners, a prominent private investment firm, has recently led the recapitalization of Patriot Growth Insurance Services, LLC (“Patriot”), one of the nation’s fastest-growing and largest insurance agencies. This strategic move was executed in partnership with Patriot’s founder and CEO, Matt Gardner, and Summit Partners, who initially invested in Patriot in 2019. Summit Partners and Patriot management will retain significant minority stakes in the company, signaling continued confidence in Patriot’s trajectory.
Based in Fort Washington, PA, Patriot was established in January 2019 by Matt Gardner, an industry veteran with 30 years of experience in insurance distribution. Patriot has distinguished itself within a competitive market through a unique growth strategy. This strategy centers on forming partnerships with high-growth, well-managed agencies and fostering deep collaboration across its expanding network. In just under three years since its inception, Patriot has successfully integrated 64 agency partners, achieved impressive organic growth rates exceeding market averages, and established a significant national presence across 18 states, serving over 100,000 clients.
According to Matt Gardner, Founder and CEO of Patriot, “Since Patriot’s inception in 2019, our primary focus has been to provide resources and capital to exceptional entrepreneurs, enabling them to accelerate their growth. The added support from GI Partners will allow us to continue our strategy of carefully selecting top-tier agencies and cultivating a highly collaborative environment that prioritizes an ‘agency-first’ approach. Summit Partners has been an invaluable partner since our foundation, and we are delighted they will remain investors as we continue our growth journey.”
This recapitalization marks a significant milestone for Patriot Growth Insurance Services and underscores GI Partners’ commitment to investing in high-growth platforms within the insurance sector. The partnership is poised to further accelerate Patriot’s expansion and solidify its position as a leading national insurance agency.
