Detroit-based Huron Capital Partners has announced its full-service insurance brokerage platform, High Street Insurance Partners in Traverse City, has acquired Hartzell Insurance Associates in Pennsylvania and NYAB Insurance and Perry and Carroll Insurance, both in New York.
High Street was formed in August 2018 and has since completed 24 acquisitions. It continues to pursue add-on acquisitions in the insurance agency market. Huron Capital is a lower middle-market private equity firm.
“We are thrilled with the addition of these three longstanding companies in the Northeast markets, which strengthens our geographic footprint and enhances our specialty market strategy,” says Scott Wick, CEO of High Street. “We share similar beliefs and values with each of these companies and their dedication to providing superior levels of service in their communities and niche customer groups.”
Hartzell has provided businesses with business, personal, and group health insurance for nearly 30 years.
NYAB was founded in 2012 and is an insurance brokerage that specializes in personal and commercial insurance with a focus on New York City’s transportation industry.
Perry and Carroll has served the southern tier of New York and northern tip of Pennsylvania for more than 160 years. In addition to the acquisition, the company also announced the retirement of Jim Rogers, president, who has been with the agency for 37 years. Other management team members will continue to lead the agency from its office in downtown Elmira, N.Y.
High Street is one of 15 Huron Capital ExecFactor initiatives. It provides business and insurance risk management, employee benefits and human capital management, financial and retirement services, and personal insurance solutions delivered through community-focused agencies. It employs more than 500 insurance coverage specialists and consultants in offices in Colorado, Connecticut, Iowa, Maryland, Michigan, New York, Oregon, and Pennsylvania.
“The momentum of HSIP in early 2021 is unrelenting, and we couldn’t be happier with the additions the team continues to identify and make to its growing roster,” says Brian Rassel, principal of Huron Capital. “This growth in geography, expertise, and specializations are beneficial to not only HSIP’s ongoing strategic growth plan, but also for the employees and customers.”
Huron Capital was founded in Detroit in 1999. It has established six private equity funds aggregating nearly $2 billion in committed capital and invested in more than 200 companies. Its portfolio companies have employed more than 11,000 people throughout North America.