The Hilb Group (Hilb) has completed a $2 billion financing round to refinance existing debt and expand its Revolving Credit and Delayed Draw Term facilities.
This strategic financing brings more than $500 million of available debt capacity to drive mergers and acquisitions to pursue Hilb's growth strategy.
Since Carlyle acquired the company in 2019, the firm has grown with over 150 acquisitions and has built a diversified and fully integrated platform.
Today, Hilb operates over 100 offices across 30 states, employing more than 2,400 associates who serve over 330,000 clients all across the country in the property & casualty as well as employee benefits sectors.
The Virginia-based brokerage group recently continued its expansion spree, with a Colorado-based worksite enrolment business, Texas and Alabama-based property and casualty businesses acquired by the firm during recent times.
This aggressive move for small firms has catapulted Hilb into a strong market position.
"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," said Ricky Spiro, CEO of Hilb.
The CEO expressed a positive outlook for the new credit facility, suggesting it will provide the group with the strength and flexibility to stay focused on investing in talented individuals who align with Hilb’s culture and approach.
The group has also been investing in technology infrastructure and talent development to provide relevant insurance solutions and to boost customer service.
What do you think of this latest move by the group? Share with us your comments below.
