BOSTON, MA – Abry Partners, a leading private equity firm headquartered in Boston, has announced a significant expansion of its insurance sector investments with the acquisition of High Street Insurance Partners (HSIP). The acquisition of HSIP, a comprehensive insurance brokerage, from Huron Capital, marks a strategic move for Abry, reinforcing its commitment to the insurance distribution space and highlighting the strong growth potential of high street insurance partners. HSIP’s management and agency partners will retain substantial equity in the company, while Huron Capital will maintain a minority stake, signaling confidence in the future trajectory of the partnership.
Founded in 2018, High Street Insurance Partners has rapidly emerged as a key player in the insurance market, offering a diverse suite of solutions encompassing business insurance and risk management, employee benefits and human capital management, financial and retirement services, and personal insurance lines. With its headquarters in Traverse City, Michigan, HSIP has built a robust network of community-focused agencies, driving significant growth and establishing a strong regional presence.
Scott Wick, Founder and CEO of High Street Insurance Partners, expressed enthusiasm about the new partnership, stating, “Our journey at HSIP has been marked by rapid expansion and the successful integration of 24 community-centric agencies in just two and a half years. Over the past year, we have cultivated a strong rapport with Nate and Brent at Abry, recognizing them as the ideal collaborators for our next phase of growth. Abry’s resources and deep industry knowledge are invaluable as we continue to pursue strategic acquisitions to accelerate our expansion. We extend our gratitude to Huron for their partnership over the last three years and eagerly anticipate collaborating with the Abry team. Their financial backing and proven track record in building successful insurance businesses will be crucial as we continue to scale our operations.”
Nathan Ott, Partner at Abry, highlighted the strategic rationale behind the acquisition, noting, “High Street Insurance Partners’ focused strategy on community markets, impressive M&A accomplishments, and a purpose-built platform, all under the guidance of a seasoned management team, position HSIP uniquely within the insurance distribution landscape. This investment aligns perfectly with our established strategy in the insurance distribution sector, and we are excited to support the HSIP team in realizing their vision of establishing a best-in-class and differentiated organization within the industry.”
Brent Stone, also a Partner at Abry, added, “We have closely followed the High Street Insurance Partners story for several years. The strong partnership we’ve developed with HSIP’s executive leadership—Scott Wick, Scott Goodreau, David Tuit, and Huron—has allowed us to collaboratively develop a forward-looking strategy. We are now prepared to work alongside their entrepreneurial management team to build upon their prior successes and deliver innovative solutions to the insurance industry. Our deep involvement in the insurance sector and extensive evaluation of numerous platforms led us to identify High Street as a top-tier operator, distinguished by its experienced and innovative team and its strategic focus on partnering with dynamic, growth-oriented agency partners.”
Brian Rassel, Partner at Huron, reflected on the successful partnership with HSIP, “We are incredibly proud to have supported the HSIP management team over the past few years and have been impressed by their rapid achievement of a five-year plan in half the time. Looking ahead, Huron recognized that HSIP would benefit from a larger partner with extensive industry expertise, and Abry, with Brent and Nate leading the charge, is undoubtedly the best choice.”
This acquisition of high street insurance partners by Abry Partners further solidifies Abry’s strategic focus on the insurance services sector. Abry’s existing and past investments in the insurance space include prominent names such as specialist insurer ERS, Hilb (a leading property and casualty (P&C) insurance and employee benefits broker), Acrisure, and NSM Group.
Sica Fletcher LLC acted as financial advisor, and Kirkland & Ellis LLP served as legal advisor to Abry in this transaction. Honigman LLP provided legal counsel to Huron and High Street.
About High Street Insurance Partners
High Street Insurance Partners (HSIP) is a full-service independent insurance brokerage firm committed to delivering comprehensive insurance solutions. Founded in 2018 and based in Traverse City, Michigan, high street insurance partners offers a broad spectrum of insurance and related services. These include business insurance and risk management strategies to protect businesses from various uncertainties, employee benefits and human capital management solutions to attract and retain talent, financial and retirement services to secure financial futures, and personal insurance solutions tailored to individual needs. HSIP delivers these services through a network of community-focused agencies, emphasizing local expertise and personalized service. The company employs over 500 insurance specialists and consultants across offices in Colorado, Connecticut, Iowa, Maryland, Michigan, New York, Oregon, and Pennsylvania. For more detailed information, please visit www.highstreetpartners.com.
About Huron Capital
Huron Capital, established in Detroit in 1999, is an operationally focused private equity platform with a long-standing history of fostering growth in lower middle-market companies. Utilizing their proprietary ExecFactor® buy-and-build investment model, Huron Capital specializes in complex situations, leveraging their operational expertise, substantial capital base, and transaction experience. An early adopter of the buy-and-build approach, Huron Capital has successfully managed six private equity funds, accumulating nearly $2.0 billion in committed capital and investing in over 200 companies. Huron Capital’s investment strategy encompasses equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts. They focus on fundamentally sound companies within business services, consumer products & services, and specialty industrials sectors. For more information, please visit www.huroncapital.com.
About Abry Partners
Abry Partners is recognized as one of the most experienced and successful sector-focused private equity investment firms in North America. Since its inception in 1989, Abry has executed over $82 billion in leveraged transactions and other private equity or preferred equity placements. The firm currently manages over $5 billion in capital across its active funds, demonstrating its robust financial strength and investor confidence. Abry specializes in sector-focused investments, particularly within industries where they have deep expertise, such as insurance services, media, communications, business and information services, healthcare, and consumer & retail. For more information on Abry Partners, please visit www.abry.com.
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For Abry
Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
