High Street Insurance Partners, which is backed by Huron Capital, has acquired Day, Deadrick & Marshall Inc and Premier Northwest Insurance. No financial terms were disclosed. Based in Beltsville, Maryland, DDM is an insurance agency focused on personal, business insurance, as well as financial services while Premier NW is a full-service independent agency in Oregon City, Oregon.
DETROIT – January 6, 2021 – Leading lower-middle-market private equity firm Huron Capital announced today that its full-service insurance brokerage platform, High Street Insurance Partners (“High Street”), has acquired Day, Deadrick & Marshall, Inc. (“DDM”) and Premier Northwest Insurance (“Premier NW”).
Both community-focused agencies will help support High Street’s strategic goals by expanding its Northeast footprint and establishing a new presence in the Pacific Northwest.
Beltsville, Maryland-based DDM is a full service, independent agency with a focus on personal, business insurance, as well as financial services. Located between Baltimore and Washington D.C., the company has a diverse loyal customer base throughout the region.
“We are proud of our strong customer relationships and growth despite the current environment,” said Caroline Day Scruggs, Owner and President of DDM Insurance. “Our partnership with High Street gives us even more confidence in our ability to continue to expand with additional resources and industry expertise.”
Oregon City, Oregon-based Premier NW is a full-service independent agency. The company has three Oregon offices that provide insurance services to a diverse customer base across the state, with a primary focus in agriculture.
“We are excited to team up with High Street and their deep agency partner network as we to continue to service our current customers and seek new customers,” said Mike Moll, President of Premier NW. “We believe High Street’s leadership team has the right mindset to help us capitalize on industry trends while adding to our track record of success.”
The shareholders of both DDM and Premier NW will remain active with High Street. Terms of the deals were not disclosed.
“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,” said High Street CEO Scott Wick. “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, an ExecFactor® platform formed in August 2018 to build a full-service insurance brokerage business, has now completed 17 acquisitions since its formation and continues to pursue add-on acquisitions in the insurance agency market.
“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,” said Huron Capital Principal Brian Rassel. “I am optimistic that 2021 will bring even more success to everyone at High Street.”
About Huron Capital
Based in Detroit, Huron Capital is an operationally focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has successfully established six private equity funds with aggregate committed capital exceeding $1.8 billion and invested in over 200 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit: www.huroncapital.com.
About High Street Insurance Partners
High Street Insurance Partners is a full-service independent insurance brokerage firm. Founded in 2018, the Traverse City, Michigan-based company provides a broad array of business insurance & risk management; employee benefits & human capital management; financial & retirement services; and personal insurance solutions delivered through community-focused agencies. High Street Insurance Partners employs over 450 insurance coverage specialists & consultants in offices based in Connecticut, Maryland, Michigan, New York, Oregon & Pennsylvania. Additional information can be found at www.highstreetpartners.com.