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Antares Supports Harvest Partners’ Investment in Galway Insurance Holdings with $1.4B in Credit Facilities

December 23, 2020, 09:02 AM
Filed Under: Insurance
Related: Antares Capital

Antares Capital announced that it served as joint lead arranger and is acting as administrative agent on $1.4 billion in senior secured credit facilities to support the recapitalization of Galway Insurance Holdings, the holding company for EPIC Brokers & Consultants (“EPIC”) and JenCap Holdings (“JenCap”) by Harvest Partners, LP and its affiliates (“Harvest”). Galway’s existing private equity investors, Oak Hill Capital (“Oak Hill”) and The Carlyle Group (“Carlyle”), will reinvest alongside the management team and employee shareholders, who will remain significant shareholders.

Galway represents one of the nation’s largest insurance distribution firms. In total, Galway manages over $7 billion of insurance premiums, employs over 3,100 associates and operates over 100 offices serving all 50 states.

“The structure Antares customized includes a portability feature and a sizable delayed draw term loan, allowing all parties to sign and close the deal quickly and provides access to additional liquidity to execute on Galway’s M&A growth strategy,” said Dan Glickman, partner with Harvest. “Antares’ ability to invest materially in the financing as well as its strength in bringing in additional investors was critical to this successful transaction.”

“Over two decades of tailoring solutions to meet client needs and executing on our commitments has solidified our longstanding sponsor relationships,” said Doug Cannaliato, senior managing director with Antares. “Galway has an experienced management team and an impressive track record of growth. With Harvest, Oak Hill and Carlyle, Galway has a powerhouse of investors and expertise ready to fuel their next phase of expansion.

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