Highstreet Insurance Partners Secures $550 Million in Growth Capital for Expansion and Acquisitions

Highstreet Insurance Partners has secured $550 million in growth capital for acquisitions, led by Ares Capital. The investment will support the company's expansion and innovation strategies, building on its strong local presence and offerings in communities across the country. Highstreet plans to deepen its impact by investing in data-driven insights, integration best practices, and specialty capabilities. The new capital reflects the company's successful community-based strategy and organic growth.

Highstreet Insurance Partners (HSIP) has secured $550 million in growth capital, led by Ares Capital, to support its expansion and innovation strategies. The incremental $550 million delayed draw term loan (DDTL) was upsized from an initial $500 million ask due to significant investor demand [1]. This new capital will be utilized to enhance the company's acquisition and innovation strategies, building on its already strong local presence and offerings in communities across the country.

The capital investment will enable Highstreet to further invest in data-driven insights, integration best practices, and specialty capabilities. According to Scott Wick, CEO of Highstreet, "This capital investment will help Highstreet further invest in those local and national capabilities to drive our vision forward. The strength of our integrated operating model, coupled with the relationships of our local teams across hundreds of communities, enables us to better protect people, places, and our futures" [1].

The new funding reflects the success of Highstreet's community-based strategy and its strong organic growth. The company's focus on integration and technology has positioned it as a leader in the insurance sector. Avery Zuck, Chief Financial Officer for Highstreet, highlighted the company's commitment to managing its capital structure thoughtfully and executing on its strategic objectives [1].

Highstreet Insurance Partners is a full-service independent insurance agency, founded in 2018 and based in Traverse City, Michigan. The company provides a broad array of business insurance, employee benefits, personal insurance, retirement services, and specialty risk solutions through community-focused agencies [1].

References:
[1] https://www.prnewswire.com/news-releases/highstreet-insurance-partners-adds-550-million-in-growth-capital-for-acquisitions-302522598.html