Hub International Limited has just acquired the assets of Graffam Insurance Group.
Terms of the acquisition were not disclosed.
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The Cumberland Center, Maine-based Graffam specializes in employee benefits. Graffam primarily serves businesses in the Maine and New Hampshire areas.
Graffam is the latest in a series of acquisitions made by Hub this year. Earlier this month, Hub acquired Rural Alaska Insurance Agency in Alaska. In all, Hub has completed more than 30 acquisitions to date.
In mid-August, there were rumors that Hellman & Friedman, which acquired a majority interest in Hub in 2013, was reportedly looking to sell a stake in the insurance company. Reportedly, a number of other private equity firms, as well as sovereign wealth funds and public pension funds have looked into the deal.
In September, Hub International named Marc Cohen as its new CEO, replacing Martin Hughes.
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