Insurance Agency

East Providence, RI

Clubhouse Capital secured a $2.6 million term loan to fund the acquisition by an East Providence insurance agency of a competing agency. Clubhouse’s client sought the acquisition to penetrate a different region of the state and to establish lines with carriers who traditionally limit the number of representative agents. The client’s pre-acquisition value constituted its equity contribution for the purchase, combined with the seller’s deferral of a portion of the purchase piece. (Fall 2017)