CAC Group, a comprehensive insurance brokerage enterprise incorporating CAC Specialty, Cobbs Allen, and Dorset Peak, has broadcast the successful enlargement of its syndicated loan facility, supported by Wintrust Financial Corporation, alongside contributions from Synovus and JPMorgan Chase.
The cash injection from the expanded loan will supercharge CAC Group’s strategic growth endeavours, and enable it to tap into new markets while continuing to provide sterling service to its clients.
The joint venture is a clear response to the ambition for growth and an investment in future ventures. CAC Group’s trio of brands, CAC Specialty, Cobbs Allen, and Dorset Peak, have a robust history of managing risk and delivering tailored insurance solutions. Their strength in the industry makes them a formidable force and the additional capital provided through the syndicated loan will further bolster their abilities.
On the other side of the partnership, Wintrust is a renowned financial holding company known for its focus on personalised, community-oriented banking services. They offer robust financial solutions through their subsidiary Wintrust Insurance Banking, a division of Lake Forest Bank & Trust Company, N.A., a Wintrust Community Bank, which has a specialty in the insurance industry.
The expansion of the syndicated loan facility will not only provide CAC Group with a significant capital boost but also aligns with the company’s mission of accelerating growth in strategic areas. Furthermore, the loan’s expansion also demonstrates Wintrust’s commitment to fostering growth in the InsurTech industry, with the financial behemoth leveraging its industry expertise to facilitate this deal.
CAC Group CFO, Chris Trotter, remarked, “Over the past four transformative years, we have sought capital markets partners who understand our business and operations, while allowing for the flexibility to accommodate our growth strategy. Support from Wintrust, as agent, and more recently Synovus, has been critical during our expansion and recent merger between CAC Specialty and Cobbs Allen. We welcome an excellent addition to our longstanding banking relationships, further solidifying our strategic position.”
Also commenting on the agreement, Lena Dawson, President of Wintrust Insurance Banking, stated, “The team at CAC Group has built an exceptional business. Wintrust is pleased to continue our support of CAC’s vision and strategic growth initiatives through an innovative financing solution. We’re proud to leverage our insurance industry expertise to put together a thoughtful and tailored solution for CAC Group.”
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