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Sica | Fletcher advises Charles F. Murphy, Inc. dba The Murphy Insurance Group in its sale to Highstreet Insurance Partners.

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Overview of Transaction

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  • Charles F. Murphy, Inc. dba The Murphy Insurance Group (MIG) is a fourth-generation retail agency located in Braintree, Massachusetts.

  • The Boston Business Journal ranked MIG as one of the top 25 largest independent insurance agencies in Massachusetts.

  • Originally established in 1908, MIG is P&C-focused with a well-diversified book of business by segment and by line, including a personal lines sub-segment in high-net-worth with its own dedicated service staff.

  • MIG provides products and services to a customer base of approximately 3,800 with impressive client tenure – many with the Company 30, 40, or even more than 50 years.

  • The Company decided to pursue its next phase of growth via partnership with Highstreet Insurance Partners (HSIP), one of the fastest growing insurance agencies in North America and a Top 100 National Insurance Broker headquartered in Traverse City, Michigan.

 

Significance of Transaction

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  • The acquisition of MIG provides HSIP with a well-rounded partner with deep bench strength in management, an excellent reputation in the community, and roots dating back over 116 years.

  • MIG repositions itself with employee benefits cross-sell opportunities with other HSIP partners and a plethora of support and marketing resources from HSIP themselves.

 

Sica | Fletcher's Role

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  • Sica | Fletcher served as the exclusive strategic and financial advisor to MIG for this transaction.

  • The transaction highlights Sica | Fletcher's unparalleled relationships with the most prolific acquirers in the space.

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