Lighthouse, An Alera Group Company has acquired Gales Agency, a previous subsidiary of Shelby State Bank.
Shelby State Bank purchased Gales Agency in 1999 as a unique collaboration in the finance sector between an insurance agency and a bank. After 22 successful years and substantial growth of both companies, Shelby State Bank pursued an industry leader to compliment the strengths of Gales Agency’s long history and exceptional reputation. This will be a positive transaction for both companies, allowing both Shelby State Bank and Gales Agency to continue to grow, each focusing on their core business. The partnership with Lighthouse provides Gales Agency employees and clients access to an industry leading agency with expanded capabilities and resources to maintain the strong foundation that has been the strength of the Agency for many years.
“We are pleased with this transaction with Lighthouse who is a well-managed insurance provider that combines industry-leading capabilities delivered through committed local service teams,” said Mishelle Comstock, President & CEO of Shelby State Bank. “Our partnership with Gales Agency has been mutually beneficial for many years. With the growth of both companies, this transaction allows us to focus on our banking relationships in the various markets we serve and it allows Gales Agency the resources to continue to grow.”
“Gales Agency is an exciting addition to our growing footprint,” said Tom Helmstetter, Managing Partner of Lighthouse, “We are eager to support their presence in this region of the state and Gales’ strategic carrier partnerships will significantly enhance our capabilities for our existing clients in the area.”
Lighthouse’s local leadership and best practices in property and casualty insurance, employee benefits, and retirement support is uniquely backed by Alera Group’s national pool of resources, which includes 3,000 employees in 120 locations across the country. After joining Alera Group in December 2020 as the national firm’s pioneer agency in Michigan, Lighthouse is positioned to continue their M&A activity into 2022, bringing Alera’s global capabilities to local agencies across the state.
About Gales Agency
Gales Agency began as an independent agency with Newell Gale in 1933. Over the years, Newell’s two sons, Lyle and Harrison, became involved in the agency and Gales acquired several local agencies. Today, descendants of Newell Gale are still part of the Gales Agency family business. In 1999, Gales Agency became a wholly owned subsidiary of Shelby State Bank operating 3 offices in Oceana County and one in Whitehall.
About Lighthouse, An Alera Group Company
Based in Grand Rapids, MI and in partnership with Deerfield, IL based Alera Group, Lighthouse serves clients in more than 20 verticals, including specialties in construction, manufacturing, and retail. Under Alera’s national model of collaboration and expansive network of resources, Lighthouse delivers industry-leading insurance solutions that meet the needs of clients throughout the country. For more information, visit www.lighthousegroup.com.