The Hilb Group, a portfolio company of Abry Partners, has acquired Massachusetts-based The Incentive Group LLC, an employee benefits consulting and brokerage firm. No financial terms were disclosed.
RICHMOND, Va., Sept. 10, 2019 /PRNewswire/ — The Hilb Group, LLC (“THG”) announced today that it has acquired Massachusetts-based The Incentive Group, LLC (“IG”). The transaction became effective September 1, 2019.
IG is a full-service employee benefits consulting and brokerage firm providing solutions for a variety of industries and sizes. Located in Waltham, Massachusetts, IG will continue to operate out of their office under the management of co-founders, Paul Beggan and Tim Nugent.
“As business owners, we know that our customers’ needs change on an on-going basis. We started this company with their needs in mind,” said Tim Nugent. “With this partnership, our customers will continue to receive the same degree of customer service, backed by the resources and support of a national brokerage.”
“Paul, Tim and their associates specialize in tailoring benefits programs for customers of all sizes,” said Ricky Spiro, CEO of THG. “IG’s team will complement our already strong New England benefits operations as we continue to strategically build a premier middle-market insurance and employee benefits platform.”
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 over 85 offices in 21 states. Please visit our website at: http://hilbgroup.com.