Highstreet stands poised to deepen local community expansion and impact
With a focus on building stronger, more resilient communities, one of the fastest-growing insurance agencies, Highstreet Insurance Partners (Highstreet), will continue to deepen its expansion and acquisition strategy with a new round of $550 million in capital.
Led by Ares Capital, the incremental $550 million delayed draw term loan (DDTL) was upsized from a $500M initial ask during the process due to significant investor demand. The capital will be used to support Highstreet’s acquisition and innovation strategies, building on the company’s already strong local presence and offerings in communities across the country.
“Highstreet is committed to deepening the impact we make by building a differentiated insurance platform that brings excellence in data-driven insights, integration best practices, and access to specialty capabilities to our communities and agents,” said Scott Wick, CEO for 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.”
“We appreciate the continued support of our financing partners and their willingness to invest in Highstreet’s vision,” added Avery Zuck, Chief Financial Officer for Highstreet. “Highstreet is committed to managing our capital structure thoughtfully and executing on our strategic objectives, which allow us to integrate efficiently and acquire thoughtfully.”
The new capital reflects the success of Highstreet’s community-based strategy and the company’s strong organic growth, focus on integration, innovation, and technology.
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