Detroit-based Huron Capital Partners has announced its full-service insurance brokerage platform, High Street Insurance Partners in Traverse City, has acquired Elliott Hartman Agency in Iowa and Wall Street Insurance in Colorado. Terms of the deals were not disclosed.
High Street was formed in August 2018 by Huron Capital to build a full-service insurance brokerage business. It has completed 21 acquisitions and continues to pursue add-on acquisitions.
“The addition of these two great companies in new markets builds on our ongoing geographic insurance agency expansion and also enforces our specialty market strategy,” says Scott Wick, CEO of High Street.
Elliott Hartman specializes in transportation insurance with coverage options spanning a range of recreational vehicle packages as well as comprehensive automotive and truck offerings, including commercial policies and cargo protection. All agency principals will remain active in the business. It was founded in 1959.
“The deep knowledge and experience we have gained by providing trucking and transportation insurance for more than 62 years has been the bedrock of our success,” says Scott Poppens, president of Elliott Hartman. “We now have a chance to offer our expertise to HSIP as we, in turn, benefit from the scale and financial resources HSIP can offer.”
For more than 30 years, Wall Street Insurance has provided coverage for personal products and business needs including aircraft, art collections, automobiles, boats, and wine collections. It has clients around the world.
“We are thrilled to join HSIP’s network of agency partners as we continue to offer specialized services to current and prospective clients,” says Nick Budor, president of Wall Street Insurance. “Similar to the individually tailored portfolios we help customers insure, we feel this partnership provides us with the resources necessary to expand our services.”
High Street is one of 15 Huron Capital ExecFactor initiatives. It employs more than 450 insurance coverage specialists and consultants in offices in Colorado, Connecticut, Iowa, Maryland, Michigan, New York, Oregon, and Pennsylvania.
“HSIP continues to be one of our fastest growing platforms, and we are thrilled with the momentum the team has had identifying new partners to join the company thus far in 2021,” says Brian Rassel, principal at Huron Capital. “In addition to scale, both acquisitions provide a variety of expertise and insurance specializations that will benefit HSIP and all of our partners.”
Huron Capital is a lower middle market private equity platform that was founded in 1999. Its six private equity funds aggregate nearly $2 billion in capital and invested in more than 200 companies; its portfolio companies have employed more than 11,000 people throughout North America.