High Street Insurance acquires Michigan-based Capital Insurance Group
High Street Insurance Partners, a Michigan-based a full-service insurance brokerage backed by Huron Capital, has acquired Capital Insurance Group (CIG), for an undisclosed price.
Also based in Michigan, Capital Insurance Group is an independent insurance agency that mainly sells commercial insurance programs across the state. Its customer base is said to span industries that include utilities, engineering companies, waste and recycling, and other industrial and municipal services.
Bob Moglia – Capital Insurance Group president said: “High Street is a fast-growing insurance brokerage with a wide range of expertise and resources that will be a perfect fit for our customers.
“Over the past 35 years, we have established ourselves as a leading agency in Southeast Michigan because of our superior services and professionalism, and we are confident that legacy will continue as we join High Street.”
High Street Insurance Partners’ acquisition of Capital Insurance Group marks its third deal in August 2020 and the sixth this year. The insurance brokerage also wrapped up a couple of deals in Upstate New York earlier this month by purchasing the assets of Tall Pines Insurance Service and a Verona Beach-based book of business.
Scott Wick – Founder, Managing Partner and CEO of High Street Insurance Partners said: “All three of these acquisitions will help High Street gain market share in key markets and will provide us with additional, experienced professionals and valuable customer relationships.
“Each one is aligned with our mission, which is to pursue growth through add-on acquisitions across the insurance agency market.”