7710 Holdings, LLC, a Summerton, South Carolina-based provider of workers’ compensation insurance products and support services to fire departments, received a $20m credit facility.
Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, provided the financing and, in addition, made a strategic equity investment to support working capital and regulatory surplus requirements for the company.
The company will use the facility to accelerate the delivery of a workers’ compensation insurance alternative to customers located in nearly 40 states across the U.S.
Founded in 2014 and led by CEO Bill Adamson, and CFO Tim Dunn, 7710 provides custom built workers’ compensation insurance and support services to fire departments serving suburban and rural markets across the U.S.
7710 is a mono line insurance carrier with a surplus and capital of over $7.5m with $13m additional available capital.