Keystone Agency Partners Forms Strategic Partnership with Cartier Agency

Business Wire

New partnership adds Minnesota to KAP’s expanding footprint of Platform Partners and enhances the platform’s depth in trucking and employee benefits lines of coverage

HARRISBURG, Pa.--(BUSINESS WIRE)--
Keystone Agency Partners (KAP), a rapidly growing insurance brokerage platform, today announced a strategic partnership with Cartier Agency, an independent insurance agency serving the personal, commercial, life and health insurance needs of customers in Minnesota. Cartier Agency marks the 16^th Platform Partner in KAP’s growing network of independent agencies and the 48^th transaction since its founding in 2020. Financial terms of the majority stake transaction were not disclosed.

“We are thrilled to have Cartier Agency as KAP’s first partner in Minnesota,” said Jeff Turner, Chief Executive Officer of Keystone Agency Partners. “The Cartier leadership team has built an agency of excellence and shares our vision for unlocking growth and profitability while putting the customer first. They are an ideal partner for our platform – a leader in their market with a strong and committed leadership team focused on growth – we look forward to partnering with the team as we expand in the region.”

Founded in 1979, Cartier Agency has grown into a leading independent insurance agency because of their commitment to provide their clients with friendly, personal service and expertise in all areas of the insurance industry. Located in Duluth, Minnesota, the agency takes great pride in being an integral part of the communities it serves and was named the 2022 Minnesota State “Agency of the Year” by Keystone Insurers Group. Its agency leadership serves on many community boards, committees, and belonged to numerous service organizations.

“Cartier Agency has built a reputation of trust and integrity over our 40-plus years serving communities throughout the state,” said Matt Cartier, Co-Owner at Cartier Agency. “Our team of professionals represent many years of experience in personal, commercial, life and health insurance. KAP’s commitment to excellence, exceptional resources and experience to strategize with our team makes them the perfect partner to support our future growth.”

About Keystone Agency Partners

Keystone Agency Partners is a rapidly growing insurance brokerage platform that acquires and partners with independent insurance agencies throughout the United States. KAP provides best-in-class services and capital investment that unlocks potential and delivers outsized and profitable growth within its platform agencies. Keystone Agency Partners was founded in 2020 in partnership with Keystone Insurers Group, Inc. and affiliates of Bain Capital, LP. For more information, please visit: www.keystoneagencypartners.com.

About Cartier Agency

Cartier Agency has been serving Minnesota since 1979. We specialize in business, trucking, home & automobile, and employee benefits lines of insurance. We employ over 15 people with headquarters in Duluth, Minnesota. We pride ourselves on our commitment to meeting our customers’ insurance needs. For more information, please visit: www.caduluth.com.