New York-based Equity Firm Invests $20M in Michigan Brokerage

January 29, 2010

Greenhill Capital Partners LLC announced it has invested $20 million in Acrisure LLC, a Midwest insurance brokerage company headquartered in Grand Rapids, Mich.

Formed in 2005, Acrisure has acquired 17 insurance agencies since inception and currently places approximately $350 million in insurance premiums.

Acrisure has acquired and partnered with mid-sized independent insurance agencies nationwide that specialize in placing property and casualty, benefits and other insurance lines, primarily with middle-market commercial accounts throughout the Midwest U.S.

New York-based GCP’s investment will support future growth initiatives for the business.

The brokerage serves more than 20,000 clients in Michigan, Illinois, Indiana and a number of other states and has relationships with approximately 200 insurance carriers.

Acrisure is led by Greg Williams and Rick Norris.

Source: Greenhill Capital Partners

Topics Agencies New York Michigan

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