An out-of-state company acquired the local insurance brokerage Lighthouse Group.
Alera Group is a privately held insurance firm with more than 90 locations in the U.S. The acquisition of Lighthouse Group marks Alera’s entry into the Michigan market.
Lighthouse Group will retain its name as a division of Alera Group, and its employees will continue serving clients in their existing roles across the firm’s eight Michigan locations, supported by Alera Group’s national resources and team, the firms said.
“Lighthouse Group, led by Tom Helmstetter, is an exciting addition to Alera Group, (and) we are thrilled to welcome the entire team to Alera Group,” said Alan Levitz, CEO of Alera Group. “There is a very natural cultural fit between our two collaborative organizations and an opportunity for Lighthouse to leverage Alera’s national platform for the benefit of their clients.”
Helmstetter, managing partner of Lighthouse, said he believes the acquisition will “open avenues for growth like never before” for the firm and its clients.
“Alera Group is a powerhouse — they are growing by leaps and bounds based on their national capabilities, and we are excited to become a part of that positive momentum. Many of our key partners have come from previous acquisitions, and I am confident this will be a positive partnership for our clients and our employees.
“Together, we will join Alera Group’s national resources with our personalized local services to increase our solution and product offerings.”
Woodmere, Ohio-based MarshBerry Capital Inc. acted as the exclusive financial adviser to Lighthouse in the transaction.
Founded in Holland in 1995 through the merger of Lighthouse Insurance Agency and Keuning Agency, Lighthouse Group is now based in Grand Rapids.
The brokerage offers employee benefits and property and casualty insurance solutions.
Lighthouse Group has completed 40 acquisitions in its 25-year history and now serves clients across the U.S. in industries such as construction, manufacturing and retail.
The company has locations in Grand Rapids, Holland, Muskegon, Kalamazoo, Jackson, Troy, Flint and Empire, as well as remote sales reps in Ohio, Florida and New Jersey.
Founded through the merger of several firms across the U.S. in 2017, Alera Group has more than 2,000 employees serving thousands of clients nationally in employee benefits, property and casualty, retirement services and wealth management.