The Hilb Group, a portfolio company of ABRY Partners, has acquired North Carolina-based Charlotte Insurance, a property and casualty insurance provider. No financial terms were disclosed.
RICHMOND, Va., Feb. 28, 2017 /PRNewswire/ — The Hilb Group, LLC (THG) announced today the acquisition of North Carolina – based Charlotte Insurance. The transaction became effective February 1, 2017.
Founded in 1992, Charlotte Insurance is one of the largest locally owned Property & Casualty insurance providers for businesses and individuals in Charlotte. Marty Karriker and Sean Hertel, principals of Charlotte Insurance, along with their associates will join the Hilb Group under the Charlotte Insurance name.
Including an existing employee benefits location in Mooresville, NC, THG will now have 4 offices in the Charlotte area.
“With the addition of Charlotte Insurance, our North Carolina team will have full advantage of an assortment of cross-selling opportunities,” said Robert J. Hilb, Founder and CEO of THG. “This leverage will only further support our long-term growth as well as cultivate the best-in-class solutions. We are pleased to welcome Marty, Sean and their agency to our team.”
“This is a very exciting time for our agency,” said Marty Karriker. “Not only will this partnership allow us to share our expertise nationally, but will also allow us to draw from the much broader array of resources and capabilities that exist through THG. With THG’s support, we will bring greater value to our clients and more opportunities for our team to grow.”
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.