Abry Partners (Abry), a Boston-based private equity firm, has acquired High Street Insurance Partners (HSIP), a full-service insurance brokerage, located in Traverse City, Michigan.
Abry is acquiring HSIP from Huron Capital (Huron), a Detroit-based lower middle-market private equity platform.
HSIP management and agency partners will maintain large stakes in the company and Huron will maintain a minority interest in HSIP.
Founded in 2018 by Scott Wick, who serves as CEO, High Street Insurance Partners provides a broad array of business insurance and risk management, employee benefits and human capital management, financial and retirement services, and personal insurance products and services.
HSIP employs more than 500 insurance coverage specialists and consultants in offices based in Colorado, Connecticut, Iowa, Maryland, Michigan, New York, Oregon and Pennsylvania.
With its investment in HSIP Abry continues to develop its focus on investing in insurance services businesses.
Sica Fletcher LLC served as financial advisor along with Kirkland & Ellis LLP as legal advisor to Abry. Honigman LLP served as legal advisor to Huron and High Street.
Source: Abry Partners
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