Huron Capital in Detroit Purchases Insurance Group in Bloomfield Hills

Huron Capital, a Detroit-based lower-middle-market private equity firm, announced Thursday that it had completed its 200th acquisition since the company’s founding in 1999.
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Capital Insurance Group
High Street Insurance Partners of Huron Capital has acquired Capital Insurance Group (office pictured) in Bloomfield Hills. // Photo courtesy of Capital Insurance Group

Huron Capital, a Detroit-based lower-middle-market private equity firm, announced Thursday that it had completed its 200th acquisition since the company’s founding in 1999.

The milestone deal involved a Huron Capital portfolio enterprise — Traverse City’s High Street Insurance Partners — which acquired Capital Insurance Group in Bloomfield Hills for an undisclosed sum.

High Street’s acquisition of CIG is the brokerage firm’s third deal this month, and sixth of 2020. High Street also completed two transactions in upstate New York earlier this month – acquiring the assets of Boonville-based Tall Pines Insurance Service and a Verona Beach-based book of business.

“We created Huron Capital more than two decades ago with a goal of buying and building businesses into stronger, growing companies and to benefit all stakeholders,” says Brian Demkowicz, managing partner of Huron Capital.

“It’s been an extremely rewarding journey for all of us, and our portfolio company High Street fittingly exemplifies our strategic model. We believe this platform is well-positioned to create value and are grateful to our overall team for completing our 200th deal.”

High Street, an ExecFactor platform formed in August 2018 to build a full-service insurance brokerage business, has completed 13 acquisitions since its formation and continues to evaluate potential future acquisitions.

The company’s three most recent acquisitions will expand its presence in the metro Detroit market and in upstate New York. The shareholders of both CIG and Tall Pines will remain active at High Street while the book of business will be transferred into High Street’s New York operations. Terms of the deals were not disclosed.

“All three of these acquisitions will help High Street gain market share in key markets and will provide us with additional, experienced professionals, and valuable customer relationships,” says Scott Wick, founder, managing partner, and CEO of High Street. “Each one is aligned with our mission, which is to pursue growth through add-on acquisitions across the insurance agency market.”

CIG was an independent insurance agency that primarily sells commercial insurance programs throughout Michigan. Its customer base spans industries that include engineering firms, waste and recycling, utilities, and other industrial and municipal services.

High Street is one of 15 Huron Capital ExecFactor initiatives, which is a proprietary program that combines experienced industry executives with Huron Capital’s investment experience and committed capital.

To view Huron Capital and other investment firms, visit here to see DBusiness magazine’s 2020 Michigan Venture Capital Report.

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