BroadStreet Partners increased its credit facility to $445 million with the addition of $195 million, which fuels the growth of its partner independent insurance agencies throughout the U.S. The facility funds agency acquisitions and perpetuation for the Columbus, OH-based national insurance broker.

The facility is a collaboration between BroadStreet Partners and a syndicate of 12 banks with Royal Bank of Canada as administrative agent and lead arranger and SunTrust Bank, Bank of America, ING Capital and the Bank of Nova Scotia as joint lead arrangers. The facility has an accordion feature and can be increased by an additional $120 million.

“Our independent agent partners are strong entrepreneurs growing their businesses through organic growth and acquisitions,” said Rick Miley, CEO and president of BroadStreet Partners. “Our bank facility gives them immediate access to capital to fund new acquisitions, and continue the growth of their independent insurance agencies.”