McLarens Secures $1.6B Growth Capital in Recapitalisation Led by Lee Equity
McLarens Global Limited, a leading global insurance services provider, has secured significant news growth capital following a recapitalisation led by Lee Equity Partners, LLC. The transaction, which closed recently, sees Lee Equity's Fund IV and blue-chip institutional investors injecting $1.6 billion into the company.
Lee Equity initially invested in McLarens in 2018, which led to a tripling in the company's size and expansion through strategic acquisitions. Mark Mauceri, a partner at Lee Equity, has expressed excitement about McLarens' continued growth prospects.
The recapitalisation process was advised by Evercore and Weil, Gotshal & Manges, who served as financial and legal advisors to Lee Equity, respectively. The transaction allows existing shareholders to receive liquidity or remain invested, indicating a vote of confidence in McLarens' future.
McLarens, founded in 1932, offers a wide range of services including claims adjusting, risk consulting, auditing, and pre-risk surveying. With this new capital, the company aims to further its growth strategy and strengthen its position in the global insurance market. Gary Brown, CEO of McLarens, has attributed the company's growth to its successful partnership with Lee Equity.
The recapitalisation of McLarens by Lee Equity Partners, LLC has provided the company with substantial capital one growth capital. This investment will enable McLarens to continue its expansion and strengthen its global presence in the insurance services sector.
