Coleville Partners announced that an affiliate has acquired The Powderhorn Agency from Accretive Insurance Solutions. Along with the acquisition, Coleville Partners appointed Nick Alexander as President of Powderhorn.
Headquartered in Brookfield, Connecticut, Powderhorn specializes in residential warranty and protection programs for oil tanks and septic systems, with over 25 years of experience. The company offers its flagship ‘ProGuard’ and ‘Pro-Sept’ products, the only programs in the market backed by an AM Best A+ rated carrier.
Nick Alexander brings extensive experience to his new role, having built a successful career in the home warranty industry in both the UK and US. He played a key role in scaling HomeServe USA into a market leader and has held senior positions including CFO, SVP of Strategy, and EVP of Business Operations. He has also served as an Executive Consultant to Sears Home Services and Aquarion Water Company.
Michael Feeney, Managing Member of Coleville Partners, expressed enthusiasm for the acquisition, noting that Powderhorn’s niche expertise in residential risk protection is invaluable. He highlighted the company’s pioneering role in residential tank protection and sees significant potential for growth under Coleville’s ownership and Alexander’s leadership.
Nick Alexander remarked on Powderhorn’s unique position in the warranty industry, particularly in providing protection against septic system or oil tank failures, including environmental cleanup. He looks forward to driving growth at Powderhorn, leveraging his experience from HomeServe USA.
Fred Browning, Chief Underwriting Officer at Accretive Insurance Solutions, praised the smooth transaction process and expressed confidence in Powderhorn’s future under Coleville Partners.
