North Bridge Advisors Inc. said Friday that it had been the adviser to First MainStreet Financial Ltd. in its purchase last month of Value Quote Insurance, a Longmont, Colo., agency that specializes in group health insurance and employee benefits.
Details of the transaction were not disclosed.
Value Quote sells and administers group benefit programs for Colorado employers, including health, life, and disability insurance and 401(k) plans. Founded in 1986, Value Quote is one of the largest group health-care agencies in northern Colorado; it is an Anthem Blue Cross Blue Shield and United Health platinum agency.
"The acquisition lets First MainStreet combine its existing strength in property/casualty insurance sales with Value Quote's expertise in employee benefits," Jerry Vigneron, a managing director at North Bridge Advisors, said in a press release.
The deal was the first in the Rocky Mountain region for North Bridge, a Concord, Mass., consulting firm that specializes in bank-insurance agency acquisitions and sales.
Based in Longmont, First MainStreet is a $388 million-asset bank holding company that offers financial services including banking, trust, investment, mortgage, and insurance products in northern Colorado through branches in Longmont, Fort Collins, Lafayette, and Loveland.
