Friday, 01 February 2019 13:08

Acrisure acquires HNI Risk Services

Acrisure LLC capped off its most active year for M&A with the acquisition of Milwaukee, Wis.-based HNI Risk Services at the end of 2018.

Published in Finance

CALEDONIA — In the more than five years since Greg Williams founded the company, Acrisure LLC has become the most prolific acquirer of independent insurance agencies in the U.S.

Published in Finance
Sunday, 21 January 2018 13:09

MiBiz Growth Report: Jan. 22, 2018

Here is the MiBiz Growth Report for Jan. 22, 2018: 

• M&A: Bridgman-based Kruger Plastic Products has been acquired by Chicago-based private equity firm HC Private Investments, according to a statement. Kruger President Pat Brandstatter and VP of Engineering Dirk Kruger retained “significant stakes” in the custom injection molding company. Terms of the deal were not disclosed. Grand Rapids-based Varnum LLP served as legal counsel to Kruger, which was advised on the transaction by BlueWater Partners LLC, a Grand Rapids-based investment banking and consulting firm.

Published in Breaking News

GRAND RAPIDS — As consolidation among independent insurance brokers accelerates across the country, Fifth Third Bancorp Inc. is pushing deeper into the industry through acquisitions.

Published in Finance
Sunday, 03 September 2017 17:00

MiBiz Growth Report: Sept. 5, 2017

Here is the MiBiz Growth Report for Sept. 5, 2017.

• M&A: U.K.-based Playtech acquired the technology, intellectual property and certain customer assets of ACM Group, whose CEO, Muhammad Al-Amin Rasoul, and management team are based in Grand Rapids. Playtech, a supplier of online gaming software, is listed on the London Stock Exchange and has 5,000 employees in 17 countries. Grand Rapids investment banking firm Charter Capital Partners served as financial adviser for ACM Group, a business-to-business market maker, dealer and broker in London. The deal is expected to close in early September. Terms include an initial upfront payment of $5 million, two staged payments based on the EBITDA of 2017 and 2018, and contingent consideration based on 2019 EBITDA. The total consideration for the transaction is capped at $150 million.

Published in Breaking News

CALEDONIA — Acrisure LLC remained the largest buyer of insurance brokers across North America in the first half of 2017.

Published in Health Care
Sunday, 25 June 2017 20:33

MiBiz Growth Report: June 26, 2017

Here is the MiBiz Growth Report for June 26, 2017:

Published in Breaking News
Monday, 24 April 2017 10:27

Acrisure names new president

Fast-growing insurance broker Acrisure LLC named D. Michael Sherman as president.

Published in Breaking News

GRAND RAPIDS — Two acquisitions to start 2017 give Lake Michigan Insurance Agency a wider presence across the state to drive growth and pursue further deals in an era of industry consolidation.

Published in Finance
Sunday, 08 January 2017 17:22

MiBiz Growth Report: Jan. 9, 2017

zHere is the MiBiz Growth Report for Jan. 9, 2017. 

• M&A: Grand Rapids-based Irwin Seating Co. signed a letter of intent to purchase American Seating Co.’s architectural fixed seating business in a deal expected to close in March 2017, pending due diligence. The business includes products for stadiums, auditoriums and other large venues. The company’s move to divest a “higher profile part of our business was an extremely difficult decision to make,” Chairman and CEO Ed Clark said in a statement announcing the transaction. The sale comes as American Seating seeks “to optimize its operations and resources in order to pursue significant growth opportunities” in its transportation seating business, where the company will continue to focus. American Seating intends to lay off 80 workers early this year as a result of the deal. However, a portion of that workforce may transition into roles at Irwin Seating, according to the statement. Terms of the deal were not disclosed.

Published in Breaking News
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