Last week it was announced that Partners Group, a leading global private markets firm, has agreed to a controlling stake in Foundation Risk Partners. This represents the recapitalization of FRP at a valuation of more than $2.8 billion. This milestone event is the result of many months of arduous due diligence that resulted in the pairing with the right financial partner to help FRP achieve its next set of goals.
Foundation Risk Partners has been supported by Warburg Pincus as its financial sponsor since FRP was founded in 2017 and will remain an investor. In just five short years, FRP has grown to generate close to $500M in annual revenue and remains one of the fastest-growing insurance brokerages in the U.S.
“We pride ourselves on our industry experience, client commitment and market-leading innovation,” stated FRP’s Chairman and CEO, Charlie Lydecker. “Since 2017, we have grown significantly, deepened our expertise across all product lines and enhanced our client offering. As we look to grow and break into new markets, we believe Partners Group’s track record of building superior platforms, as well as its deep resources, will be highly valuable to the next phase of our growth.”
There’s no question FRP has distinguished itself in the national landscape as one of the only fully integrated and technology-enabled insurance distribution platforms. “This is a credit to everyone at FRP who continues to push our company forward,” added Lydecker.
This new milestone for FRP confirms that its client-focused mission, growth trajectory and success are highly regarded within the equity investment industry – a testament to the dedication and preparedness for the organization’s next chapter.