The Hilb Group, which recently added more than $500 million of debt capacity available for its planned acquisitions, has purchased a property & casualty insurance business based in Louisiana.
Aside from the deal’s November 1 effectivity date, no further transaction details were disclosed.
The swoop comes on the heels of Hilb’s successful debt refinancing, which featured an upsizing of the company’s revolving credit and delayed draw terrm facilities.
Read more: Hilb Group secures $2 billion financing
Chief executive Ricky Spiro previously stated: “We are excited to continue executing on our growth strategy and to build on our track record of introducing high-quality agencies to the Hilb platform.
“The new facility will provide us with the strength and flexibility to stay focused on investing in talented individuals who align with our culture and approach.”
Acquired by Carlyle in 2019, Hilb has completed more than 100 deals since the former’s initial investment. Hilb currently employs over 2,400 people across more than 100 offices in 30 states. The business serves in excess of 330,000 clients in property & casualty and employee benefits.
Since its beginnings in 2009, Hilb has seen over 180 acquisitions cross the finish line. Deals in recent months include a property & casualty business in Alabama, a Rhode Island-based Medicare book of business, a worksite enrollment business in Colorado, and a New England-based property & casualty book of business.
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