The Hilb Group, a portfolio company of ABRY Partners, has acquired CNC Insurance Associates Inc, a provider of property and casualty insurance solutions for businesses in Delaware, Maryland, Pennsylvania, New Jersey and Virginia. No financial terms were disclosed.
RICHMOND, Va., Oct. 17, 2017 /PRNewswire/ — The Hilb Group, LLC (THG), a leading property & casualty insurance and employee benefits broker, announced today the acquisition of CNC Insurance Associates, Inc. (CNC). The transaction became effective October 1, 2017. CNC is THG’s 38th acquisition since it was founded in 2009.
Founded in 1978, CNC provides property & casualty insurance solutions for businesses in Delaware, Maryland, Pennsylvania, New Jersey and Virginia. With its office location in Dover, Delaware, CNC is the first acquisition in the state for THG. Kevin Nemith, CNC’s Managing Director, will continue to lead the agency’s associates out of their existing location.
“The addition of CNC continues THG’s national expansion and will further strengthen our presence in the Mid-Atlantic region” said Ricky Spiro, CEO of THG. “We are excited to welcome Kevin and his associates to our team.”
“Joining THG will allow us to gain additional product and service offerings that will benefit our clients while continuing to deliver the exceptional, local service we are known for,” said Kevin Nemith. “We look forward to furthering our success with this new partnership.”
About the Hilb Group: The Hilb Group is a Top 50 middle market insurance agency headquartered in Richmond, Virginia and is a portfolio company of Boston-based private equity firm, Abry Partners. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. Please visit our website at: http://hilbgroup.com.