Location: Columbus, OH
Investment Year: 2020
Century Focused Fund IV invested in BroadStreet Partners via a recapitalization of the company in May 2020. BroadStreet Partners is a diversified commercial and personal insurance brokerage business. The company has a unique acquisition strategy through which they acquire a majority interest in “core” agencies, allowing the agency management team to maintain an equity interest in the business post-transaction. This strategy creates a long term incentive for agency level management to increase the value of the agency.
Century Investment Thesis
Opportunity to drive growth through acquisitions using the BroadStreet platform in a large and fragmented market. Sellers retain a significant equity in the business and choose to remain with BroadStreet and build equity in the new business.
Century Value Add
- Refining M&A strategy
- Facilitating M&A activity
- Due diligence acquisition targets
- Capital structure optimization