Strategic partnership expands KAP’s growing national footprint in Michigan and bolsters KAP’s surety expertise
HARRISBURG, Pa. (April 28, 2022) – Keystone Agency Partners (KAP), a rapidly growing insurance brokerage platform, today announced a strategic partnership with Guy Hurley Insurance & Surety Services, an independent insurance agency providing insurance and surety services. Financial terms of the majority stake transaction were not disclosed.
With over 35 dedicated insurance professionals, Guy Hurley is based in Rochester Hills, Michigan, proudly serving the Greater Detroit area for over 20 years. The company is one of the region’s top surety firms representing several of the largest contracting firms in Michigan and Florida. Through the transaction, Guy Hurley will retain its Rochester Hills office. Guy Hurley marks the twelfth platform partnership for Keystone Agency Partners.
“For over two decades, Guy Hurley has built a strong reputation in the region and has been a trusted leader in providing high-quality, tailored insurance and surety solutions for its clients,” said Jeff Turner, Chief Executive Officer of Keystone Agency Partners. “This partnership will expand KAP’s reach in the Midwest as well as adding surety expertise to our larger national portfolio. We look forward to working together to continue to provide strong results for customers.”
“Our company prides itself in creating long-term relationships with all of our stakeholders and servicing with a client first mentality,” said Paul Hurley, Founder, Guy Hurley. “KAP is the best of both worlds in retained ownership and business perpetuation which for us means expanded growth potential for the next generation. We believe in the management team of KAP and the mutual relationship built around growth priorities. We are thrilled for this next stage of Guy Hurley.”
The addition of Guy Hurley as a Platform Partner to KAP, marks the acquisition of Farmington Insurance Agency. Financial terms of the acquisition were not disclosed. Farmington adds 14 professionals and comprehensive personal and commercial insurance services. Farmington is based in Farmington, Michigan, and will retain their office.
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About Keystone Agency Partners
Keystone Agency Partners is a rapidly growing insurance brokerage platform that acquires and partners with independent insurance agencies throughout the United States. KAP provides best-in-class services and capital investment that unlocks potential and delivers outsized and profitable growth within its platform agencies. Keystone Agency Partners was founded in 2020 in partnership with Keystone Insurers Group, Inc. and affiliates of Bain Capital, LP. For more information please visit: www.keystoneagencypartners.com.
About Guy Hurley Insurance & Surety Services
The insurance professionals at Guy Hurley been serving the insurance & surety needs of our clients in the greater Detroit area for over 20 years. Our agency specializes in quality and competitive solutions for our customers. Our utmost goal is to provide customized insurance solutions that can grow with our clients to manage risk while maximizing outcomes. For more information, please visit: www.ghbh.com.
Contact:
Jennifer MacLaren
Keystone Agency Partners
jmaclaren@keystoneagencypartners.com
603-494-1773