Acrisure LLC, a Caledonia-based insurance brokerage, is moving its global headquarters to the new Studio Park development in downtown Grand Rapids, MiBiz has learned.
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.
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.
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.
GRAND RAPIDS — As consolidation among independent insurance brokers accelerates across the country, Fifth Third Bancorp Inc. is pushing deeper into the industry through acquisitions.
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.
CALEDONIA — Acrisure LLC remained the largest buyer of insurance brokers across North America in the first half of 2017.
Here is the MiBiz Growth Report for June 26, 2017: