The Hilb Group LLC, a portfolio company of Abry Partners, has acquired Arkansas-based Walker Brothers Insurance Inc, a retail agency primarily focused on commercial property and casualty insurance for small to medium-sized businesses. No financial terms were disclosed.
RICHMOND, Va., April 16, 2019 /PRNewswire/ — The Hilb Group, LLC (“THG”) announced today the acquisition of Arkansas-based Walker Brothers Insurance, Inc. (“WBI”). The transaction became effective April 1, 2019.
Formed in 1932, WBI is a full-service retail agency primarily focused on commercial property & casualty insurance for small to medium sized businesses. WBI’s employees, including Agency Leader Mike Luttrell, are joining THG and will continue to operate out of their office located in Springdale, Arkansas.
“Joining THG will allow us to continue WBI’s passion of helping businesses and communities prosper,” said Luttrell. “Now with the resources of a national organization, we will be able to further our long-standing commitment to our region.”
“THG is committed to building a distinguished network of nationwide agency partners. WBI’s strong Arkansas presence supports the growth of our organization’s footprint,” said Ricky Spiro, THG CEO. “We are extremely pleased to welcome Mike and his colleagues to our expanding team at THG.”
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. The company now has 75 offices in 18 states. Please visit our website at: http://hilbgroup.com.