US-based Patriot Growth Insurance Services has added full-service insurance agency PDCM Insurance to Patriot platform, expanding its geographic presence into the Iowa marketplace.
The partnership with PDCM will also enable Patriot to fortify its current property and casualty and employee benefits capabilities.
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PDCM offers a spectrum of insurance products and services to businesses and individuals throughout the Midwestern US.
The company will continue to be led by its CEO Chris Fereday and the Employee Benefits Division president John Monaghan. Both Fereday and Monaghan have assumed senior executive roles within Patriot, as part of the deal.
Fereday said: “PDCM has more than 100 years of experience building relationships and helping clients protect their assets in Iowa.
“We are excited to leverage Patriot’s resources and national network in order to take our client service to the next level.”
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By GlobalDataIn addition to insurance offering, PDCM provides various flagship products and programmes such as Risk Reduction Approach, HRConnect, EMPower and Border Audit.
These solutions are designed by the firm to improve employee safety, enhance profitability and lower insurance rates.
Patriot founder and CEO Matt Gardner said: “PDCM checks every box for Patriot – engaged and energetic leadership, dynamic producers, unwavering client service focus, and enviable organic growth.”
In August this year, Patriot raised additional funds to support acquisitions and organic growth strategy.
The capital raised was a mix of equity and debt from current investor Summit Partners and an expansion of Patriot’s existing debt facility co-led by Barings Global Private Finance and Antares.
