FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Victory Park Capital Enters Insurance Sector With Investment in 7710 Holdings

September 03, 2015, 07:30 AM
Filed Under: Insurance

Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced that it has provided a $20 million credit facility to 7710 Holdings, LLC (7710), a South Carolina-based provider of workers’ compensation insurance products and support services to fire departments that protect residents in suburban and rural geographies throughout the country. The facility will allow 7710 to accelerate the delivery of a competitive, high-value workers’ compensation insurance alternative to customers located in nearly 40 states across the U.S.

In addition to providing 7710 with its first institutional credit facility, VPC also provided a strategic equity investment to support working capital and regulatory surplus requirements for the company.

“7710 has convened a seasoned group of executives and senior advisors that possess a unique insight into the workers’ compensation insurance needs of the niche firefighter market,” said Derek Ferguson, principal at VPC. “We believe 7710 has identified an underserved and overlooked market opportunity in the broader insurance sector, and, through their direct professional experience with firefighters as well as insurance, is poised to successfully execute upon the company’s growth strategy. We look forward to partnering with the company and helping management create a world-class provider of niche insurance products.”

7710 is led by CEO Bill Adamson, an accomplished executive with more than 40 years of experience in the insurance industry. Adamson said, “We are pleased with the significant show of support from VPC, which gives us a strong financial base to provide for the unique workers’ compensation needs of firefighters.”

“We are excited to team up with a firm as knowledgeable and experienced as VPC in providing capital support to leaders in niche market sectors,” added Tim Dunn, chief financial officer of 7710. “The flexibility of their structure will enable us to advance our expansion efforts into additional states and commence delivery of a premium product and service to our target customer base.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.