Insurance agency Choice Financial Group has received an undisclosed amount of investment from Northlane Capital Partners (NCP).
NCP made the investment along with the Choice management team.
Additionally, insurance industry veteran Bob Hilb joined the Choice executive team. Hilb will guide the company’s acquisition strategy.
Choice president Richard Braun said: “NCP’s investment adds capital resources and expertise that will accelerate our company’s growth, particularly with respect to our acquisition strategy.
“We share a vision with NCP for Choice to become a leading national insurance brokerage platform, while maintaining our steadfast focus on the highest quality service for our customers.”
Choice was founded in 1998 and it offers property and casualty insurance services. The company also offers employee benefits services.
It is headquartered in Virginia Beach, Virginia.
NCP partner Sean Eagle said: “Choice has a clear market opportunity to continue to build on its prior success, including a successful track record of 11 acquisitions completed over the past three years.
“We have been thoroughly impressed with Richard’s leadership and strategic perspectives. NCP will support Choice in building additional scale, adding new service capabilities, and expanding its geographic footprint.
“We look forward to working alongside Richard and the Choice team to execute on the company’s growth initiatives, including onboarding entrepreneurial and likeminded agencies to the platform.”