The Hilb Group, a portfolio company of ABRY Partners, has acquired Cheboygan, Michigan-based BKC Insurance Agency, a provider of property & casualty and employee benefits solutions. No financial terms were disclosed.
RICHMOND, Va., Oct. 24, 2017 /PRNewswire/ — The Hilb Group, LLC (THG), a leading property & casualty insurance and employee benefits broker, announced today the acquisition of BKC Insurance Agency (BKC). The transaction became effective October 1, 2017. BKC is THG’s 39th acquisition since it was founded in 2009.
Based in Cheboygan, Michigan with an additional location in Indian River, Michigan, BKC will further expand THG’s geographic footprint in the Midwest. BKC provides a wide array of property & casualty and employee benefits solutions for businesses and individuals, including specialized programs for farms and other agricultural services in Michigan, Ohio and Indiana. Following the transaction, BKC’s associates, including managing partners, Joseph Breed, Ken Pletcher, and Pete Patrick, will join THG and continue to service clients from their existing offices.
“For over 75 years, we have held fast to our commitment of offering our clients a broad choice of products and solutions, all backed by prompt, personal service,” said Joseph Breed. “Joining forces with THG will allow us to build upon this commitment by providing access to new ideas and solutions.”
“BKC’s expertise and market relationships exemplify our values of service and entrepreneurialism and their broad expertise will further enhance our growing Midwest operations,” said Ricky Spiro, CEO of THG. “We look forward to supporting BKC’s growth in the years to come”
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.