Lee Equity Partners has announced the closing of a $1.6bn recapitalisation of McLarens Global, aimed at enhancing the latter’s growth plans.  

The transaction allows existing shareholders to receive liquidity or stay reinvested, while also providing McLarens with additional capital for its growth initiatives. 

The recapitalisation initiative was led by Lee Equity’s most recent fund, Lee Equity Partners Fund IV, LP, and included contributions from many blue-chip institutional investors.  

With a history exceeding 90 years, McLarens operates a network of offices in 43 countries, employing a team of more than 1,600 specialists.  

The company offers technical claims services to brokers, insurance companies and multinational corporations.  

McLarens CEO Gary Brown said: “Our partnership with Lee Equity has been instrumental in driving McLarens’ growth and transformation. Their support has allowed us to make the investments in talent, technology and capabilities necessary to maintain our world-class levels of client service in a rapidly changing insurance market.”  

The partnership began in December 2018 with an investment from Lee Equity Partners Fund III, LP. Since then, McLarens has increased in size, expanded its international presence, and introduced new service lines through organic growth and the acquisition of 18 companies. 

Lee Equity has a history of investments in the insurance industry, supporting companies such as Captive Resources, Simplicity Group, K2 Insurance, Axis Insurance and Arcadian Risk Capital. 

Lee Equity partner Mark Mauceri stated: “Our continued investment in McLarens reflects the strength of our partnership and the exceptional results Gary and the McLarens team have achieved to date.  

“We are excited to support the company as it continues to expand globally, enhance its service offerings and build on its market-leading reputation for excellence in complex claims management.”