Huron Capital-backed High Street Insurance Partners has acquired Boyne City-based KorthaseFlinn Insurance & Financial Services, the fourth acquisition for High Street since its formation by Huron Capital in 2018.
Based in Traverse City, High Street was designed to pursue a buy-and-build strategy through add-on acquisitions in the insurance agency market. KF is Huron Capital’s ExecFactor commercial and personal insurance platform, one of 15 ExecFactor initiatives.
KF is one of northern Michigan's largest independent insurance and financial services firms, providing specialized business, employee benefits, financial and personal insurance solutions. The company's employees currently serve over 10,000 clients throughout the Midwest.
KF President Randy Flinn will continue to lead the company while reporting to Randall Koch, High Street’s managing partner and COO. Terms of the acquisition were not disclosed.
"We believe Huron Capital's history of growing companies through add-on acquisitions will add great benefit to our current clients and create additional relationship opportunities across Michigan," Flinn said in a statement. "We expect our partnership with High Street will help us elevate our customer services and grow our expertise, and we are incredibly excited about the opportunity this presents for our company, customers, employees and all of our stakeholders."
Huron Capital is an operationally focused private equity firm with a long history of growing lower middle-market companies through its proprietary ExecFactor buy-and-build investment model. The Detroit-based firm has raised over $1.8 billion in capital through six committed private equity funds and invested in over 170 companies, and its portfolio companies have employed over 11,000 people throughout North America.