Huron Capital's High Street Insurance Partners Acquires Traverse City firm
- September 13, 2019
Huron Capital's High Street Insurance Partners Acquires Ottawa Kent Insurance Agency
West Michigan deal is sixth add-on acquisition for Traverse City firm
DETROIT, MI -- Lower-middle-market private equity firm Huron Capital announced that High Street Insurance Partners ("High Street"), its ExecFactor® full-service insurance brokerage platform, acquired Ottawa Kent Insurance Agency (Ottawa Kent), an outsourced risk management and independent insurance agency with four offices in West Michigan. This acquisition marks High Street's sixth deal since it was founded in June of 2018.
As one of the largest agencies in the Grand Rapids market, Ottawa Kent has operated for more than 40 years, providing insurance solutions to more than 10,000 customers, with offices in Jenison, Sparta, Holland and Byron Center.
"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," said Scott Wick, Managing Partner and Chief Executive Officer 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 for all Ottawa Kent principals to remain active members of the business and retain their current positions, which is expected to help ensure that existing customers continue to receive expected and expanded services.
"We are confident that High Street is the right partner to position the combined company for future growth," said 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."
High Street is one of 15 ExecFactor® initiatives created by Huron Capital, a leading lower-middle-market private equity firm. ExecFactor® seeks to combine a CEO's industry expertise with Huron Capital's extensive investment experience and committed capital. These resources, tools and expertise are aimed to help Ottawa Kent grow and achieve its financial and business goals.
"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," said 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."