Insurance Brokerage Firm Tropolis in Ann Arbor Acquires Three Area Agencies

Tropolis, an Ann Arbor-based insurance brokerage that provides property and casualty, along with employee benefits solutions, today announced it has completed the acquisition of three insurance agencies in southeastern Michigan with Unity Partners, a private equity firm in Dallas.

Terms of the deal were not disclosed.

The three businesses — 360 Risk Management in Northville Township, a commercial property and casualty insurance agency with a focus on providing insurance and risk management solutions for restaurant businesses; Modi Benefits in Northville Township, a national benefits and risk management firm; and Fishman Agency in Commerce Township, a provider of commercial insurance with a focus on recycling and waste management — are the first acquisitions for Tropolis since announcing a partnership with Unity Partners.

“We are thrilled about the future of the Tropolis platform as we join forces with three outstanding business leaders, each with extensive industry expertise and a history of delivering exceptional service to their clients,” says Jeff Mason, co-founder and CEO of Tropolis. “Tropolis will bring key resources to the table to further support our partners’ growth through strategic technology adoption and data integration.”

Tropolis and Unity Partners state they “are committed to supporting a culture of true ownership and collaboration.” Qualified employees of all three acquired businesses will be able to participate in an ownership incentive plan.

“Our passion revolves around supporting our agency partners with enhanced capabilities to power exceptional customer service while meeting the insurance needs of their communities, and provide greater employee satisfaction,” said Jim Ryans, CFO of Tropolis.

“By integrating technology and artificial intelligence to better leverage key data, our agency partners gain new insights to accelerate growth. The momentum we have built up to this point is exciting, and we’re eager to further advance our reputation as a trusted and forward-thinking insurance brokerage.”

Tropolis states it “continues to evaluate potential partnerships with highly motivated leaders of rising insurance businesses across the U.S., and looks forward to opportunities to provide insurance services to new and emerging markets.”

“Our partnership with Jeff, Jim, and the entire Tropolis team has been outstanding,” says Hannah Inclán, vice president at Unity Partners. “Today’s announcement marks a significant step in our journey to build Tropolis into one of the leading Insurance brokerages in the country.”

Tropolis is an emerging national insurance brokerage, pioneering the integration of technology and data to drive growth, enhance employee satisfaction and provide exceptional customer service. For more information, visit tropolis.com .

Unity Partners is a principles-based private equity firm. For more information, visit unitypartnerslp.com .

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