The Powderhorn Agency, a Brookfield-based administrator of warranty programs for oil tanks and septic systems, has been acquired by an affiliate of New York-based Coleville Partners.
Powderhorn was previously owned by Accretive Insurance Solutions, and according to its website has more than 20,000 residential customers.
Coleville, a private investment firm, has appointed Nick Alexander as the new president of Powderhorn.
According to a statement from the company, Alexander has had a long career in the home warranty industry, including a stint at HomeServe USA. He was most recently a consultant to companies including Aquarion Water, a Connecticut-based subsidiary of Eversource.
“Powderhorn pioneered the residential tank protection program more than 25 years ago,” Michael Feeney, the managing member of Coleville Partners said, describing the company as a top marketer, distributor and administrator of fully underwritten tank service contracts in the United States. “As an independent company under Coleville Partners’ ownership… Powderhorn can build on its deep experience and heritage in residential tanks to achieve operational excellence and growth in the years ahead.”
