Larkin Lands Equity Partner
Jan. 8, 2015
Larkin Group, an independent insurance agency in Traverse City, is now a partner of Acrisure, a large brokerage operator based in Grand Rapids. The deal was effective January 1, according to Bryan Taggart, one of Larkin's principals.
Taggart says the partnership gives Larkin access to new markets, for instance oil and gas, and access to capital to purchase other agencies and continue its growth in the community. Since 2006, Larkin has experienced more than 500 percent growth, he adds.
"We're essentially bringing on an equity partner," Taggart tells The Ticker. "They are a 'behind the scenes' brokerage operation.
He says customers will not see any change in the company's name or culture and all employees remain.
Taggart, along with Larkin principals Justin Looyenga and Steve Merten, are now shareholders in Acrisure.
"We have lofty aspirations," says Taggart, about the company's growth, including adding to its staff of 28. "We have our eye on various opportunities in the five-county region and are very excited about the future."
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