The acquisitions will help High Street Insurance grow its Northeast footprint
Huron Capital-backed High Street Insurance acquires two insurance agencies. (Credit: Pete Linforth from Pixabay)
High Street Insurance Partners, a US-based insurance brokerage platform backed by Huron Capital, has acquired Day, Deadrick & Marshall (DDM) and Premier Northwest Insurance (Premier NW) for an undisclosed price.
Day, Deadrick & Marshall and Premier Northwest Insurance are both community-focused insurance agencies. Their acquisition is expected to help support the strategic objectives of High Street Insurance by growing its Northeast footprint and creating a new presence in the Pacific Northwest.
High Street Insurance CEO Scott Wick said: “We are thrilled to add both of these companies to our High Street portfolio and expand our reach throughout key geographic and speciality coverage markets.
“Both of these acquisitions are sure to benefit our entire High Street family, further increasing our scale and management expertise, while cementing our position as a leading insurance agency across the nation.”
Based in Maryland, Day, Deadrick & Marshall focuses on personal, business insurance, and also financial services.
Premier Northwest Insurance, on the other hand, is based in Oregon. The company offers insurance services to customers across Oregon, while mainly focusing on agriculture.
Premier Northwest Insurance president Mike Moll said: “We are excited to team up with High Street and their deep agency partner network as we to continue to service our current customers and seek new customers.
“We believe High Street’s leadership team has the right mindset to help us capitalize on industry trends while adding to our track record of success.”
The shareholders of both the insurance agencies will remain active with High Street Insurance, which is an ExecFactor platform created in August 2018.
ExecFactor is an executive-led market entry programme from Huron Capital.
Based in Michigan, High Street Insurance has so far made 17 deals with plans to pursue further add-on acquisitions in the insurance agency market.