Traverse City’s High Street Insurance Partners of Detroit-based lower-middle-market private equity firm Huron Capital has acquired InPro Insurance Group, an independent insurance agency based in Troy. Details of the transaction were not disclosed.
InPro offers commercial, group, and personal insurance to businesses ranging from local governments to maintenance services and industrial manufacturing.
“I’m looking forward to partnering with High Street and providing both our sales team and customers with greater resources,” says Dave Goodman, president of InPro. “I know the High Street team and the people who have been helping the company grow, and (I) believe our team will thrive as we join forces.”
Goodman will remain in his current role. High Street plans to look for additional partners.
“Dave and High Street have similar values and goals for where we would like to take our company in the future,” says Scott Wick, managing partner and CEO of High Street Insurance Partners. “We are excited to add Dave’s proven business and industry acumen and believe this acquisition will lead to additional opportunities.”
InPro is the seventh acquisition for High Street since it was formed by Huron Capital in mid-2018. High Street is one of 15 Huron Capital ExecFactor initiatives, which were designed to pursue a buy-and-build strategy through acquisitions.
“We believe InPro will provide another great addition to High Street’s roster of clients, expands our geographical reach, and will likely lead to some exciting future opportunities,” says Matt Hare, partner at Huron Capital.
Huron Capital has established six investment funds totaling about $1.8 billion in aggregate annual revenues exceeding $3 billion. They have more than 15,000 employees and have operated more than 325 facilities.
High Street provides commercial property and casualty insurance, employee benefits services, and personal lines to a range of industries.