Union Bay Risk Advisors has received a significant growth investment from Thayer Street Partners, marking a major milestone in its effort to build one of the nation’s leading independent property and casualty insurance brokerage platforms. The Lancaster, Pennsylvania-based company said the investment will support its accelerated acquisition strategy, strengthen operational infrastructure, and reinforce its financial position as it scales toward becoming a Top 100 national brokerage.
The company has already deployed a portion of the new capital to repay its credit facility fully. In tandem with the investment, Union Bay recently closed its seventeenth acquisition, extending its geographic presence across seven states. The acquisition further expands its ability to work with over 150 insurance carriers and enhances its nationwide capacity to serve both families and businesses seeking tailored property and casualty solutions.
Union Bay was launched to provide simplified and client-centered insurance guidance, and the new capital positions the company to pursue additional transactions that deepen its market reach. Thayer Street Partners, a private investment firm focused on flexible growth capital for technology-enabled financial, real estate, and business services companies, said its investment is designed to align with Union Bay’s acquisition-driven growth model.
With an enhanced capital base and an established track record of successful integration, Union Bay plans to continue expanding organically and through further targeted acquisitions across strategic regional markets in the Northeast, Midwest, and beyond.
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“Union Bay was founded to provide straightforward, client-focused insurance advice and solutions. 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.”
Patrick Sullivan, Co-Founder and President of Union Bay Risk Advisors
“We are excited to build on our relationship with Patrick, Doug and the Union Bay team. 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.”
Josh Koplewicz, Managing Partner and Founder of Thayer Street Partners
