High Street Insurance Partners, which is backed by Huron Capital, has acquired Woodbury, New York-based Badge Agency, an insurance agency. No financial terms were disclosed.
DETROIT – February 18, 2021 – Huron Capital Partners LLC (“Huron Capital”), a leading lower middle-market private equity platform, announced today that its full-service insurance brokerage platform, High Street Insurance Partners (“HSIP”), has acquired Badge Agency, Inc. (“Badge”).
Founded in 1968, Woodbury, New York-based Badge Agency is a full-service, multi-line insurance agency. Badge writes business, automobile, homeowners, life and health insurance, with an expertise in providing coverage for private schools, manufacturing, technology, and real estate clients.
“We have built a wide range of strong relationships over the past 50 years, often servicing several generations of families as clients,” Badge President Michael Ventura said. “Moving forward with HSIP ensures that we maintain this momentum as we continue to grow and thrive in our communities, providing the service levels our dedicated customers have come to know and expect.”
Ventura will remain active in the business and will now report to Jim Kerin, Agency President of HSIP-backed Millennium Alliance Group in Melville, New York.
“We are proud to add the Badge and Ventura heritage to our portfolio and team,” HSIP CEO Scott Wick said. “The invaluable experience and expertise of the entire Badge team will only cement our positioning in our New York markets through their solid reputation and years of focused expansion, both geographically and across new and existing relationships.”
HSIP, an ExecFactor® platform formed in August 2018 to build a full-service insurance brokerage business, has now completed 19 acquisitions since its formation and continues to pursue add-on acquisitions in the insurance agency market.
“The addition of Badge creates a multitude of opportunities for HSIP and our partners, deepening our roots within markets outside of New York City where HSIP already has a presence,” said Huron Capital Principal Brian Rassel.
About Huron Capital
Founded in Detroit in 1999, Huron Capital is an operationally focused private equity platform 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. An early pioneer of the buy-and-build approach, Huron Capital has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital 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 focuses on niche segments within the business services, consumer products & services and specialty industrials sectors. For more information, please visit: www.huroncapital.com.
About High Street Insurance Partners
High Street Insurance Partners (HSIP) 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. HSIP 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.