DALLAS (June 11, 2024) – Holland & Knight represented Worldwide Insurance Network Inc., dba Smart Choice, one of the largest and fastest-growing independent, full-service national insurance agency networks in the United States, on a $142 million financing transaction. The transaction closed on May 28.
The new credit facilities consist of a $132 million senior term loan facility, which refinanced the company's existing debt and will provide capital for future acquisitions, and a $10 million senior revolving loan facility, which will provide ongoing working capital needs.
Worldwide Insurance Network Inc., dba Smart Choice, headquartered in Greensboro, North Carolina, is a network of more than 10,000 independent agents and over 100 carrier partners, with service in 45 states, that has helped independent agents gain access to top-ranked markets and grow their books of business since 1994.
Holland & Knight's representation of Worldwide Insurance Network Inc., dba Smart Choice, was led by finance Partner Arthur Lotz and Associates Amir Saboorian, Ana Moreno and Austin Rockwood. They were assisted by Partners Robert Hill on intellectual property matters, Brandon Bloom on tax matters, Ashley Phillips on environmental matters and Neely Munnerlyn on ERISA matters.