The Hilb Group, a portfolio company of ABRY Partners, has acquired Mansfield, Massachusetts-based HR Knowledge, a provider of integrated HR services that include payroll, employee benefits and human resources management. No financial terms were disclosed.
RICHMOND, Va., Nov. 14, 2017 /PRNewswire/ — The Hilb Group, LLC (THG) announced today the acquisition of HR Knowledge (HRK). The transaction became effective November 1, 2017. HRK is THG’s 40th acquisition since it was founded in 2009 and 10th acquisition this year.
Located in Mansfield, Massachusetts, HRK provides employers across the nation with integrated HR services including payroll, employee benefits, human resources management and benefits brokerage & administration. HRK is one of the few brokers in the United States who has partnered with ADP to provide outsourced payroll and HR information management, utilizing ADP’s Workforce Now platform. Founded in 2001, HRK has been recognized on the Inc. 5000 list of America’s Fastest Growing Private Companies for four years in a row.
HRK’s managing directors, Ken Bettenhauser and Jeff Garr, and their team will continue to operate out of their existing location.
“This partnership will play a key role in achieving our goal to deliver a comprehensive set of services and solutions to our current and future clients,” said Ken Bettenhauser. “We are excited to take our business in this new direction and look forward to working with everyone at THG.”
“We view this move as an opportunity for our employees to build on the success and growth HRK has had over the years,” added Jeff Garr. “As a part of THG, our clients can now tap into a wider range of products, services and expertise to address their needs.”
“HRK’s unique business model in the employee benefits space and tremendous track record of growth will complement and help expand our benefits operation across our organization,” said Ricky Spiro, CEO of THG. “We are pleased to have Ken, Jeff and their team join our company.”
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.