Two of BroadStreet’s℠ Partners Combine to Leverage Regional Scale
While BroadStreet℠ typically helps its partners grow by assisting them with tuck-in acquisitions and new producer investments, we recently helped to facilitate the merger of two of our partners.
The leaders of North Risk Partners and Bearence Management Group saw the opportunity to leverage their collective scale across the markets they serve. The result of this vision was the merger of two of the Midwest’s leading independent agencies. Together, North Risk Partners and Bearence Management Group is a $50 million agency with 21 offices across Minnesota, Iowa and Nebraska.
This merger is indicative of the type of entrepreneurial decision making that the BroadStreet℠ co-ownership model helps to foster. With the operational autonomy that our partners maintain, they have the ability to explore creative business solutions to enhance the long-term value of their agencies and create opportunities for their colleagues.
The network of BroadStreet’s℠ agency leaders is a collegial one, and since we only have 20 core partners, our agency leaders have built strong connections with one another over the years. They share ideas, meet in person to discuss best practices and develop business opportunities together. This environment is a unique feature of the BroadStreet℠ co-ownership model, and certainly contributed to North Risk Partners and Bearence coming together to execute their merger.
Please contact me to learn more about BroadStreet’s℠ co-ownership model and discuss how we can help to accelerate your agency’s growth.
Additional information about the North Risk Partners and Bearence Management Group merger can be found here.