CAC Group Strengthens Financial Resources with Expanded Syndicated Loan
Jun 12, 2023
Denver (June 12, 2023) – CAC Group, a national insurance brokerage business that includes CAC Specialty, Cobbs Allen, and Dorset Peak, announced today the successful expansion of its syndicated loan facility, further bolstering its financial resources and strategic growth initiatives. The syndicated loan, led by Wintrust Financial Corporation (“Wintrust”), includes participation from several other financial institutions, including Synovus and JPMorgan Chase. The increase in capital resources will enable CAC Group to pursue new markets, invest in key areas of growth, and continue delivering exceptional value to its clients.
“Over the past four transformative years, we have sought capital markets partners who understand our business and operations, while allowing for the flexibility to accommodate our growth strategy,” said Chris Trotter, CFO at CAC Group. “Support from Wintrust, as agent, and more recently Synovus, has been critical during our expansion and recent merger between CAC Specialty and Cobbs Allen. We welcome an excellent addition to our longstanding banking relationships, further solidifying our strategic position.”
“The team at CAC Group has built an exceptional business. Wintrust is pleased to continue our support of CAC’s vision and strategic growth initiatives through an innovative financing solution,” said Lena Dawson, President of Wintrust Insurance Banking, a division of Lake Forest Bank & Trust Company, N.A., a Wintrust Community Bank. “We’re proud to leverage our insurance industry expertise to put together a thoughtful and tailored solution for CAC Group.”
About CAC Group
CAC Group is a national insurance brokerage business focused on risk management. The entity comprises CAC Specialty, an industry-leading specialty broker, Cobbs Allen, a P&C and employee benefits broker with a 135-year history, and Dorset Peak, a structured solutions group that specializes in the convergence of insurance and capital markets. CAC Group delivers commercial insurance, employee benefits, and personal insurance solutions to its clients. CAC Group is ranked in the top 50 of all U.S. brokerage firms.
About Wintrust Insurance Banking
Wintrust Insurance Banking is composed of dedicated insurance banking specialists who take the time to understand each agency’s unique needs, in order to provide consultative guidance on the right financial solutions to help agents, brokers, managing general agents, and managing general underwriters grow their business. Through their parent company Wintrust, they are able to provide a full suite of financial solutions, including premium financing.
About Wintrust Financial
Wintrust is a financial holding company with assets of approximately $53 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the “HAVE IT ALL” model, Wintrust offers the sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 170 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including business units that provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges.