Worldwide Facilities, LLC, a Los Angeles-based national wholesale insurance broker and managing general agent, received a significant investment from Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies.
Following the transaction, Worldwide Facilities will continue to be majority-owned by its employees.
The terms of the transaction were not disclosed.
Founded in 1970 and led by Davis Moore, Chairman and Chief Executive Officer, Worldwide Facilities is a large wholesale insurance brokerage company. As a national wholesale broker, it places excess and surplus lines insurance on behalf of retail agents and brokers, and their insureds.
The company has more than 190 employees across 11 offices in major metropolitan areas including Atlanta, Chicago, Hartford, Houston, Irvine, Los Angeles, New York, Orlando, Phoenix, San Francisco and Seattle.