High Street Acquires Maritime
Sica | Fletcher advises Maritime Insurance International, LLC and MIINC, LLC (“Maritime”) in their sale to High Street Insurance Partners (“High Street”).
Overview of Transaction
Founded in 2007 by Nick McGinty, Maritime is is a retail and wholesale agency that specializes in providing marine/watercraft coverages to businesses and individuals.
Maritime agreed to partner with High Street Insurance Partners (HSIP), a top 100 National Insurance Broker headquartered in Traverse City, Michigan.
Significance of Transaction
The acquisition of Maritime provides High Street with a watercraft/marina specialist, which will allow them to expand within the vertical. Additionally, Maritime’s presence on the East coast will enhance High Street’s geographic footprint in the area.
The transaction will provide Maritime with robust corporate resources that will rapidly bolster growth and enhance operations.
Sica | Fletcher's Role
Sica | Fletcher was hired to serve as exclusive strategic and financial advisor to Maritime and explored multiple options for the firm before partnering with High Street.
The transaction builds on Sica | Fletcher's track record of success with complex transactions and key relationships with the most prolific acquirers in the space.