The Hilb Group, a portfolio company of Abry Partners, has acquired North Carolina-based Employee Benefit Advisors of the Carolinas LLC, a employee benefits agency for small to mid-market businesses in the Southeast region. No financial terms were disclosed.
RICHMOND, Va., Nov. 19, 2019 /PRNewswire/ — The Hilb Group, LLC (“THG”) announced today the acquisition of North Carolina-based Employee Benefit Advisors of the Carolinas, LLC (“EBA”). The transaction became effective November 1, 2019.
Located in Charlotte, North Carolina, EBA is a full-service employee benefits agency for small to mid-market businesses in the Southeast region. EBA’s team has expertise in group health & dental, life & disability, as well as other employer sponsored benefits. As a part of the transaction, EBA will join THG’s Southeast operations and Suzy Johnson, EBA Principal, will work alongside THG’s team to grow the region’s benefits division.
“EBA takes pride in the mission and culture that we have established as a woman owned agency,” said Johnson. “In choosing a partner, THG stood out in their commitment to support our growth and the alignment with our values, particularly ‘Do the right thing.’ The additional resources and solutions that THG has to offer will also greatly benefit our team members and clients as we move to the next chapter in EBA’s history.
“EBA’s experience and market relationships will continue to fuel the growth of our existing benefits division in the Southeast region,” said Ricky Spiro, CEO of THG. “We look forward to their added expertise, and welcome EBA’s associates to our team.”
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 90 offices in 21 states. Please visit our website at: http://hilbgroup.com.