Private equity platform Huron Capital Partners announced that its full-service insurance brokerage platform, High Street Insurance Partners (HSIP), acquired Elliot Hartman Agency and Wall Street Insurance.
Waterloo, Iowa-based Elliot Hartman was founded in 1959. The firm specializes in transportation insurance with coverage options spanning RV, automotive and truck packages, including commercial policies and cargo protection.
All agency principles will remain active in the business, HSIP stated.
“The deep knowledge and experience we have gained by providing trucking and transportation insurance for more than 62 years has been the bedrock of our success,” Elliott Hartman Agency President Scott Poppens said. “We now have a chance to offer our expertise to HSIP as we, in turn, benefit from the scale and financial resources HSIP can offer.”
HSIP was formed in 2018 by Huron Capital as a full-service insurance brokerage business. The company completed 21 acquisitions since its formation and continues to “pursue add-on acquisitions in the insurance agency market.”
“The addition of these two great companies in new markets builds on our ongoing geographic insurance agency expansion and also enforces our specialty market strategy,” HSIP CEO Scott Wick said. “Our consolidation track record is on our planned pace, and we continue to successfully integrate partners and develop HSIP into a national agency of choice.”
Colorado-based Wall Street Insurance has provided coverage for personal products and business needs ranging from aircraft, art collections and automobiles such as boats and off-road vehicles.
“We are thrilled to join HSIP’s network of agency partners as we continue to offer specialized services to current and prospective clients,” Wall Street Agency President Nick Budor said. “Similar to the individually tailored portfolios we help customers insure, we feel this partnership provides us with the resources necessary to expand our services.”
HSIP is one of 15 Huron Capital “ExecFactor” initiatives, which combine a CEO’s industry expertise with Huron Capital’s investment experience and committed capital.
“HSIP continues to be one of our fastest growing platforms, and we are thrilled with the momentum the team has had identifying new partners to join the company thus far in 2021,” Huron Capital Principal Brian Rassel said. “In addition to scale, both acquisitions provide a variety of expertise and insurance specializations that will benefit HSIP and all of our partners.”