Funds managed Crestline Investors’ U.S. direct lending business served as the administrative agent and sole lender on a senior secured credit facility for Afore Insurance Services, an independent retail insurance brokerage firm. The credit facility will fund strategic acquisitions that expand Afore’s agency network and enhance its capabilities to meet customer needs.
“Afore has established itself as an industry-leading growth platform for entrepreneurial agency partners, combining the ability to deliver personal service at a local level with the backing and far-reaching expertise of a national organization,” Aaron Mack, managing director at Crestline, said.
“Their proven success in acquiring and integrating agencies has made them a standout in the industry,” Matt Hudson, director at Crestline, said. “We’re excited to work with the Afore management team as they continue to expand their platform and set new standards for service and innovation in the insurance industry.”
“Crestline’s support is instrumental in helping us achieve our growth goals,” Michael A. Garguilo, president and CEO at Afore, said. “Their specialized expertise and financial backing give us the resources to pursue key expansion initiatives and execute our long-term strategic plans of partnering with like-minded entrepreneurs.”
