Financial services
| Sector | Financial services |
| Sub-sector | Insurance |
| Location | United States |
Founded in 2012, World Insurance Associates (WIA) offers comprehensive insurance, risk management and benefits consulting services to individuals and businesses in specialised industries such as transportation, technology, hospitality, self-storage facilities, non-profits, construction, manufacturers, startups and law firms.
In its early growth stage, WIA approached Macquarie Capital’s Principal Finance team in search of a solution to help accelerate its acquisition strategy while allowing employees and shareholders to retain equity control. Since then, Macquarie Capital has continued to partner with WIA, providing support that has enabled it to become one of the country’s leading full-service insurance brokerage firms
Macquarie Capital partnered with WIA’s management team to devise a highly customised debt facility to help accelerate its acquisition strategy, while ensuring employee shareholders retained a majority stake in the company.
With this agreement, Macquarie Capital became WIA’s first institutional capital investor, with both debt and minority equity, and has since supported the company’s growth strategy, offering deep expertise in the insurance distribution sector. Our team helped WIA navigate a rapid organic and strategic expansion across the US resulting in the completion of more than 55 acquisitions to date.
When WIA sought a new investor for further growth capital, the company chose Macquarie Capital to advise on the transaction. We leveraged our deep understanding of the firm and the market to identify a match in Charlesbank Capital Partners and advised WIA on the majority investment from the private equity firm.
Following Charlesbank’s investment, Macquarie Capital has continued to serve as agent and joint lead arranger, working collaboratively with WIA and Charlesbank to upsize their credit facilities on multiple occasions.
Outcome
Macquarie Capital’s expert advice and capital helped World Insurance Associates grow to become one of the Top 100 P&C Insurance Agencies in the US, with a current top 40 firm ranking by Insurance Journal. By partnering with the company over the long term, we helped facilitate over 55 acquisitions, expand the company’s product portfolio and geographic footprint as well as grow and diversify its group of lenders.
Our unique investment capabilities paired with our extensive knowledge of the insurance sector allowed us to provide customised, hands-on support throughout World Insurance Associates’ growth journey. Today, the company operates in 21 states and is well-positioned to continue its expansion. As one of the nation’s leading insurance brokers and employers, WIA is helping expand access to affordable, word-class asset and lifestyle coverage to its 40,000 clients across the US.
in the US1
