McCarthy Capital Sells Interest in Bearence Management Group
Omaha, NE (June 11, 2015) – McCarthy Capital announced today the sale of Bearence Management Group to BroadStreet Partners. Bearence is an insurance brokerage and financial services firm engaged in the sale and distribution of property and casualty, life and health, employee benefits, investments and risk management products and services. Bearence has a significant presence in both the Des Moines and Minneapolis/St. Paul areas, with a satellite office in Kansas City. BroadStreet Partners is an insurance brokerage company headquartered in Columbus, Ohio.
“This concludes a successful seven-year partnership with Bearence,” said Chase Meyer, Vice President of McCarthy Capital. “We were fortunate to collaborate with CEO Joe Teeling and his team on many value-add initiatives including revenue and profit growth.”
“We thank McCarthy for their outstanding partnership, counsel and support throughout the years. The team at McCarthy has been instrumental to the success of Bearence,” said Joe Teeling, Chairman and CEO of Bearence Management Group. “Bearence is a much better business today than it was before we partnered with McCarthy.”
About McCarthy Capital
McCarthy is an Omaha-based private equity firm focused exclusively on investing in lower middle-market companies. For nearly 30 years, the McCarthy organization has been partnering with founders, families and exceptional management teams to support the growth of their companies. For more information about McCarthy, please visit www.mccarthycapital.com.
About BroadStreet Partners
BroadStreet Partners is an insurance brokerage company operating through a diverse group of premier regional insurance agencies. BroadStreet’s unique partnership approach aligns incentives through equity ownership and preserves the entrepreneurial orientation that distinguishes the most successful insurance brokerage firms. Its’ unique model delivers operational autonomy to its “core” partners and the ability to leverage scale, acquisition expertise and access to capital. BroadStreet is the 15th largest insurance broker in the United States and the 6th largest privately held broker. It has 16 regional “core” partners with over 138 office locations. For more information visit www.broadstreetcorp.com.