NEW YORK – November 5, 2019 – Golub Capital acted as the Administrative Agent on a $1.6 billion GOLD facility to support the refinancing of Risk Strategies, a portfolio company of Kelso & Company. GOLD financings are Golub Capital One-Loan Debt facilities. The deal represents Golub Capital’s largest unitranche loan to date.
Risk Strategies is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property and casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, nonprofits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 15 brokers in the country, Risk Strategies has offices in more than 70 locations nationwide including Boston, New York City, Chicago, Minneapolis, Miami, Atlanta, Houston, Dallas, Nashville, Los Angeles and San Francisco.
Since financing Kelso’s acquisition of Risk Strategies in 2015, Golub Capital has supported the Company’s growth and acquisition plans through seven additional transactions.
“Risk Strategies has proven the merits of its thoughtfully constructed growth strategy. We are thrilled to continue supporting Risk Strategies’ growth with this new financing,” said Chip Cushman, Managing Director on Golub Capital’s Direct Lending team. “It is exciting to lead a transaction of such scale.”
“This debt financing represents a significant step forward for Risk Strategies and goes a long way toward fully supporting our M&A strategy well into the future,” said John Vaglica, Risk Strategies CFO and Head of M&A. “We are excited to have such a prestigious roster of debt partners. Together with Kelso, we will continue to execute on our growth strategy as one of the leading specialty brokers nationally.”
About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and credit asset manager, with over $30 billion of capital under management. We specialize in delivering reliable, creative and compelling financing solutions to U.S. middle market companies backed by private equity sponsors. The firm’s credit expertise also forms the foundation of our Late Stage Lending business and our Broadly Syndicated Loan investment program. Across our activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from our private equity sponsor clients and investors. Founded 25 years ago, Golub Capital today has over 425 employees and lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.
About Risk Strategies
Risk Strategies is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, nonprofits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 15 brokers in the country, Risk Strategies has offices in more than 70 locations nationwide including Boston, New York City, Chicago, Minneapolis, Miami, Atlanta, Houston, Dallas, Nashville, Los Angeles and San Francisco.
About Kelso & Company
Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $14 billion of equity capital in over 125 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (“ESOP”) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured investing team, and a reputation as a preferred partner to management teams and corporates. Kelso has significant experience investing in financial services, having deployed approximately $2.5 billion of equity capital in the sector over the past decade. For more information, please visit www.kelso.com.