Michigan-based High Street Insurance Partners has acquired KorthaseFlinn Insurance & Financial Services (KF), an independent insurance and financial services firm, for an undisclosed price.
High Street Insurance Partners, which is the ExecFactor commercial and personal insurance platform of Huron Capital, offers commercial property and casualty insurance, employee benefits services and personal lines to a variety of industries.
ExecFactor is an executive-led market entry programme created by the lower-middle-market private equity firm.
KF, which is based in Boyne City, Michigan, provides employee benefits, financial and personal insurance solutions. The company is said to have more than 10,000 clients across the Midwest and its acquisition will help High Street Insurance deepen its regional presence in northern Michigan.
KF president Randy Flinn said: “We believe Huron Capital’s history of growing companies through add-on acquisitions will add great benefit to our current clients and create additional relationship opportunities across Michigan.
“We expect our partnership with High Street will help us elevate our customer services and grow our expertise, and we are incredibly excited about the opportunity this presents for our company, customers, employees and all of our stakeholders.”
For High Street Insurance, the transaction with KF marks its fourth acquisition since it was formed last year by Huron Capital. The company was created to follow a buy-and-build strategy by making add-on acquisitions in the insurance agency market.
High Street Insurance managing partner and CEO Scott Wick said: “KF’s experienced employees and excellent client service have built the Company a strong reputation in the insurance industry.
“We are confident that KF’s focus on providing tailored risk solutions to its clients and robust customer network will enhance our ability to service new and existing relationships at the highest level.”
Last November, High Street Insurance acquired The DJB Group, which offers employee benefits solutions in Pennsylvania, Ohio, and West Virginia. Prior to that, in August 2018, the company acquired Michigan-based Peterson McGregor & Associates, which offers business, employee benefits and personal insurance solutions.