TRAVERSE CITY — Insurance brokerage High Street Insurance Partners Inc. has acquired two more agencies, adding to the firm’s existing market presence in the eastern U.S. and expanding it into the Pacific Northwest.
“We are thrilled to add both of these companies to our High Street portfolio and expand our reach throughout key geographic and specialty coverage markets,” High Street CEO Scott Wick said in an announcement on the transactions. “Both of these acquisitions are sure to benefit our entire High Street family, further increasing our scale and management expertise, while cementing our position as a leading insurance agency across the nation.”
High Street acquired Beltsville, Md.-based Day Deadrick & Marshall Inc. and Oregon City, Ore.-based Premier Northwest Insurance. Shareholders of both companies remain active with High Street. Terms of the deals were undisclosed.
Since forming in 2018 with the financial backing of Detroit private equity firm Huron Capital, Traverse City-based High Street has closed on 17 acquisitions and “continues to pursue add-on acquisitions in the insurance agency market,” according to a statement.
“High Street’s management team continues to find ways to capitalize on its momentum and I could not think of a better way to kick off the New Year than to complete these two add-on acquisitions,” Huron Capital Principal Brian Rassel said. “I am optimistic that 2021 will bring even more success to everyone at High Street.”