LANCASTER, Pa., Nov 21 — Union Bay Risk Advisors (“Union Bay” or the “Company”), an independent property & casualty insurance brokerage platform, today announced that it has received a significant growth investment from Thayer Street Partners (“Thayer Street”), a private investment firm that provides flexible growth capital to technology-enabled financial, real estate and business services companies.
The investment enables Union Bay to accelerate and scale its M&A activities and enhance its operational infrastructure as it continues to focus on building a Top 100 national insurance brokerage platform. The Company has also used the proceeds from Thayer Street’s investment to fully repay its credit facility.
Simultaneously with Thayer Street’s investment, Union Bay recently completed its 17th acquisition, expanding its footprint across seven states. The transaction provides the Company with an even greater ability to strategically partner with a broad range of over 150 insurance carriers to deliver tailored property and casualty insurance solutions to families and businesses across the country.
“Union Bay was founded to provide straightforward, client-focused insurance advice and solutions,” said Patrick Sullivan, Co-Founder and President of Union Bay Risk Advisors. “With Thayer Street’s investment, we’ve strengthened our balance sheet and positioned ourselves to pursue additional acquisitions that expand our reach and enhance the services we deliver to our clients.”
“We are excited to build on our relationship with Patrick, Doug and the Union Bay team,” said Josh Koplewicz, Managing Partner and Founder of Thayer Street Partners. “Having closely tracked the Company’s progress, we were able to design a capital solution that aligns directly with its acquisition-led growth strategy. We look forward to supporting the team as they execute their next phase of growth.”
With a strengthened capital base and a proven integration track record, Union Bay is well-positioned to continue its expansion both organically and through targeted acquisitions across key regional markets.