Huron Capital, a Detroit-based lower-middle-market private equity firm, has announced its Traverse City-based High Street Insurance Partners has acquired its fourth add on – KorthaseFlinn Insurance and Financial Services in Boyne City. Terms of the deal were not disclosed.
High Street is Huron Capital’s commercial and personal insurance platform. KorthaseFlinn is an independent insurance and financial services firm that has additional offices in East Jordan, Gaylord, and Petoskey. It provides specialized business, employee benefits, financial and personal insurance solutions. It serves more than 10,000 clients in the Midwest.
“KF’s experienced employees and excellent client service have built the company a strong reputation in the insurance industry,” says Scott Wick, managing partner and CEO of High Street. “We are confident that KF’s focus on providing tailored risk solutions to its clients and robust customer network will enhance our ability to service new and existing relationships at the highest level.”
Randy Flinn, president of KorthaseFlinn, will continue to lead the company and report to Randall Koch, managing partner and COO of High Street.
“We believe Huron Capital’s history of growing companies through add-on acquisitions will add great benefit to our current clients and create additional relationship opportunities across Michigan,” says Flinn. “We expect our partnership with High Street will help us elevate our customer services and grow our expertise, and we are incredibly excited about the opportunity this presents for our company, customers, employees, and all of our stakeholders.”
High Street provides commercial insurance, personal lines, and employee benefits services since its formation by Huron Capital in 2018. The company is one of 15 Huron Capital ExecFactor initiatives, designed to pursue a buy-and-build strategy through add-on acquisitions in the insurance agency market.
“We believe KF’s diverse client base and trusted financial services are a great addition to High Street as we continue to deepen our presence across Michigan,” says Matt Hare, partner at Huron Capital. “We are excited to welcome the KF team to the High Street family and look forward to pursuing additional expansion opportunities in the insurance agency market.”
Huron Capital is celebrating its 20th anniversary this year and has raised more than $1.8 billion in capital through six committed private equity funds and invested in more than 170 companies.