Huron Capital Partners in Detroit, a lower middle-market private equity firm, has announced its full-service insurance brokerage platform, High Street Insurance Partners in Traverse City, has acquired Badge Agency Inc. in New York.
Badge was founded in 1968 and is a full-service, multi-line insurance agency. It writes business, automobile, homeowners, life, and health insurance with expertise in providing coverage for private schools, manufacturing, technology, and real estate clients.
“Moving forward with HSIP ensures that we maintain this momentum as we continue to grow and thrive in our communities, providing the service levels our dedicated customers have come to know and expect,” says Michael Ventura, president of Badge.
Ventura will remain active in the business and will report to Jim Kerin, agency president of High Street-backed Millennium Alliance Group, also in New York.
High Street was formed in 2018 to build a full-service insurance brokerage business. It has now completed 19 acquisitions since its formation and continues to pursue add-on acquisitions.
“The addition of Badge creates a multitude of opportunities for HSIP and our partners, deepening our roots within markets outside of New York City where HSIP already has a presence,” says Brian Rassel, principal at Huron Capital.
Huron Capital was founded in 1999 and has established six private equity funds aggregating nearly $2 billion in committed capital and invested in more than 200 companies.