The latest acquisitions will enable Huron Capital strengthen its presence in West Michigan and expand into New York
US-based private equity firm Huron Capital, through its full-service insurance brokerage platform High Street Insurance Partners (HSIP), acquires three new insurance agencies.
The agencies include Michigan-based Trust Shield Insurance Group (TSIG), Ken Bleeker Insurance Agency and Gates-Cole Associates based in New York.
Financial details of the transactions have not been disclosed.
The latest acquisitions will enable the High Street to gain increased market share in West Michigan and will expand into New York with potential for additional growth.
High Street CEO Scott Wick said: “We expect that these additions to the High Street family will help us to solidify our position as a leading insurance agency in our home market in Michigan and new markets.”
High Street is one of 15 Huron Capital ExecFactor initiatives
High Street is one of 15 Huron Capital ExecFactor initiatives that was created to pursue growth through add-on acquisitions in the insurance agency market.
Founded in 1993, TSIG client base includes Michigan-based companies in the energy, landscaping, and agriculture industries. It operates three offices in West Michigan.
TSIG founder and principal Tom Olvitt said: “We are especially excited about joining the High Street family because we personally know members of its leadership team, and we believe we will be able to grow faster and provide even better service by joining forces.”
Bleeker Insurance specializes in personal and commercial lines of property and casualty insurance, group and individual health coverages, and individual life insurance
Bleeker Insurance president Brian Bleeker said: “Our team is happy to secure a partnership that makes sense for the local legacy we have built over the past 51 years.
“I also believe our clients will benefit from the additional resources available to us through High Street.”
Gates-Cole Associates sells property and casualty insurance plans to employers and individuals in New York state
Gates-Cole Associates president Bill Cole said: “We are committed to securing and strengthening our business in Western and Central New York and are encouraged by the opportunities ahead.”
In December last year, High Street acquired InPro Insurance Group, an independent insurance agency.