High Street Insurance Partners of Detroit’s Huron Capital, a lower-middle-market private equity firm, has acquired Ottawa Kent Insurance Agency, an outsourced risk management and independent insurance agency with four offices near Grand Rapids.
The acquisition marks High Street’s sixth since it was founded in June 2018. Terms of the deal were not disclosed.
“Ottawa Kent’s principals have established an impressive network in the insurance industry in Michigan and beyond, providing High Street with even more industry expertise and a deeper bench of resources,” says Matt Hare, partner at Huron Capital. “We look forward to working with the Ottawa Kent team to build on its previous successes and create even more.”
High Street is based in Traverse City. Ottawa Kent has operated for more than 40 years and provided insurance solutions to more than 10,000 customers. It has offices in Jenison, Sparta, Holland, and Byron Center, Mich.
“Ottawa Kent has a large and diverse base of customers across a number of industries including maintenance services, manufacturing, and business services, and also has relationships with many leading insurance companies,” says Scott Wick, managing partner and CEO of High Street. “We believe this wide range of customers and markets, along with a talented and experienced staff, makes Ottawa Kent a strong addition to the High Street family.”
High Street plans that all Ottawa Kent principals will retain their current positions.
“We are confident that High Street is the right partner to position the combined company for future growth,” says Mike Haverdink, president of Ottawa Kent. “We believe this is the right decision at the right time for our customers and 64 employees, and we are pleased that the existing partners will have an opportunity to be a part of one of the fastest growing insurance brokerages in the Midwest.”
Huron Capital works to grow lower middle-market companies through its buy-and-build investment model.