Henriott Group acquires southwest Indiana insurance firm
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Insurance and risk management agency Henriott Group has acquired Harpenau Insurance in a deal that is expected to broaden the reach of both organizations and expand services.
Henriott Group is based in West Lafayette and has an office in Indianapolis. It provides risk management and insurance services to clients in a host of industries, and its HGI Solutions division provides personal lines of insurance.
Harpenau Insurance is based in the Perry County town of Troy and has an office in Evansville. A specialist insurance advisory firm, it works with clients in the sectors of trucking, drones, lumber and furniture, wood products and manufacturing and also provides personal lines of insurance.
“Our focus is always on expanding opportunities to support our clients,” Co-CEO Kelley Henriott said in a news release. “This acquisition expands our insurance partner portfolio and adds significant expertise to the team.”
Terms of the deal were undisclosed. Staffing levels will be unaffected, a company spokesperson said in an email, and each company will retain its own brand.
Harpenau Insurance owner Rick Harpenau said his business “holds six decades of collective, blood, sweat, tears, memories, and friendships.”
“Finding the right strategic partner to continue our legacy has been a primary focus of mine over the last several years,” he said in the release. “Maintaining our team, along with our Troy and Evansville locations was important in this decision.”
The deal comes just under a year after Henriott Group announced it would split its services into two distinct brands: Henriott and HGI Solutions.