Middle market insurance agency The Hilb Group, backed by ABRY Partners, acquired Clark-Mortenson Insurance, a New Hampshire-based insurance and financial services agency. The deal was effective as of April 1, 2016. With the acquisition, Hilb Group has 570 associates in 48 offices around the country.
The Hilb Group, LLC (THG) announced today the acquisition of Clark-Mortenson Insurance, a New Hampshire-based insurance and financial services agency. The transaction became effective April 1, 2016.
Founded in 1877, Clark-Mortenson Insurance is one of the largest independently owned insurance and financial services agencies in northern New England. Clark-Mortenson has locations in New Hampshire and Vermont, serving clients with a variety of personal and business insurance options with specialties in hospitality, eldercare, residential health facilities and technology.
“Adding Clark-Mortenson expands and strengthens our presence in New England,” said Bob Hilb, president and CEO of THG. “Their commitment to their clients and community is one that strongly resonates with THG. We look forward to the opportunities that lie ahead with another strong New England-based agency joining our team.”
Tom Minkler, Clark-Mortenson Insurance president, will continue to lead the company’s 48 employees under its existing name.
“As our agency evolves, the needs and desires of our clients do, too,” Minkler said. “We wanted a partner that would expand Clark-Mortenson’s services and programs to help meet the needs of our clients, positioning us for sustained growth. The Hilb group was a perfect fit.”
“We live in a community where ‘locally-owned’ speaks volumes,” said Heather Minkler, Clark-Mortenson CEO. “The Hilb Group model allows us to maintain the local management that is important to both our clients and staff. We’re also looking forward to expanding our resources for our clients and the opportunities for our employees.”
With the addition of Clark-Mortenson, THG now has more than 570 associates in 48 offices nationwide and is one of the top 40 insurance brokers in the United States.
About the Hilb Group: The Hilb Group is a leading 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.