Lee Equity Partners, a leading middle-market private equity firm focused on financial and healthcare services, announced the closing of a $1.6 billion recapitalization of McLarens Global Limited, which is one of the largest independent provider of complex commercial insurance claims services.
The deal reinforces the long-standing partnership between Lee Equity and McLarens while providing existing shareholders with the option to realize liquidity or remain invested. It also supplies McLarens with significant new growth capital to further accelerate its expansion strategy.
The recapitalization was led by Lee Equity Partners Fund IV, LP, with participation from several leading institutional investors. The transaction marks a continuation of the partnership that began in December 2018, when Lee Equity first invested in McLarens through its third fund. Since then, McLarens has tripled in size, expanding its geographic footprint and service offerings through a mix of robust organic growth and 18 strategic acquisitions.
Founded in 1932, McLarens operates across a global network of 170 offices in 43 countries and employs over 1,600 professionals. The company provides technical insurance claims services to many of the world’s largest insurers, brokers, and multinational corporations, assisting with their most complex and high-severity insurance claims. Its expertise spans claims adjusting, auditing, pre-risk surveying, and risk consulting across a wide range of industry sectors.
The new investment strengthens McLarens’ financial position and supports continued investment in talent, technology, and operational capabilities as it scales globally. Lee Equity’s renewed backing underscores its confidence in McLarens’ leadership team and its commitment to maintaining the firm’s market-leading position in complex claims management.
Lee Equity Partners has a track record of success in specialty insurance services, with prior and current investments in Captive Resources, K2 Insurance, Simplicity Group, Axis Insurance, and Arcadian Risk Capital, among others. The firm’s thematic investment strategy focuses on partnering with strong management teams to drive growth and operational excellence in the financial and healthcare services sectors.
Evercore served as financial advisor to Lee Equity, while Weil, Gotshal & Manges acted as legal counsel for the transaction.
KEY QUOTES:
“Our partnership with Lee Equity has been instrumental in driving McLarens’ growth and transformation. Their support has allowed us to make the investments in talent, technology, and capabilities necessary to maintain our world-class levels of client service in a rapidly changing insurance market. We look forward to building on this momentum as we enter our next phase of growth.”
Gary Brown, CEO, McLarens Global Limited
“Our continued investment in McLarens reflects the strength of our partnership and the exceptional results Gary and the McLarens team have achieved to date. We’re excited to support the Company as it continues to expand globally, enhance its service offerings, and build on its market-leading reputation for excellence in complex claims management.”
Mark Mauceri, Partner, Lee Equity Partners
