Former Hub execs start PE-backed broker venture

Private equity firm Huron Capital Partners L.L.C. and two former Hub International Ltd. executives have formed High Street Partners, which will focus on insurance agency acquisitions, Detroit-based Huron Capital announced Monday.

In conjunction with its creation, High Street acquired Traverse City, Michigan-based Peterson McGregor and Associates L.L.C., which provides commercial insurance, personal lines and employee benefits services, Huron Capital said in a statement.

No financial terms were disclosed regarding the acquisition.

Scott Wick has been named CEO and managing partner of High Street. He previously served as president of Independence, Ohio-based The Fedeli Group and executive vice president and chief sales officer of Hub’s Midwest region. Randy Koch, the co-founder of High Street, was previously president and CEO of Hub’s Midwest East region.

Huron Capital is a lower-middle market private equity firm, according to its website.