GRAND RAPIDS — Insurance broker Acrisure LLC pledged $15 million to Spectrum Health to create a virtual innovation center for children’s health.
Investors initially wanted to up their ante and take their stake in Caledonia-based Acrisure LLC to several times their existing holdings.
The purchase of Ottawa Kent Insurance Agency Inc. comes as a Traverse City-based agency platform backed by private equity investors pursues a Midwest acquisition strategy.
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.
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 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.
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.
After growing rapidly and closing dozens of transactions with the backing of private equity, executives and minority shareholders at insurance broker Acrisure LLC are acquiring a majority stake in the company.