The Hilb Group, a portfolio company of Abry Partners, has acquired New Jersey-based New Agency Partners, an insurance brokerage. No financial terms were disclosed.
RICHMOND, Va., Oct. 16, 2019 /PRNewswire/ — The Hilb Group, LLC (“THG”) announced today the acquisition of New Jersey-based New Agency Partners (“NAP”). The transaction became effective October 1, 2019.
NAP is a full-service insurance brokerage in Parsippany, New Jersey providing business insurance, employee benefits and personal insurance to clients throughout the Tri-State region. The NAP team will continue to operate out of their current office location under the existing agency leadership of Andy Merkin, Bruce Wilson and Steve Peck.
“THG is a highly regarded national insurance brokerage that will enable us to provide additional resources for both our clients and associates,” said Andy Merkin. “I speak for my entire team by saying we look forward to becoming a part of a highly collaborative group that shares our values and commitment to service excellence.”
“The NAP team offers THG a complementary product and service mix and helps us to further build our presence in the Tri-State region,” said Ricky Spiro, CEO of THG. “I am delighted to welcome Andy, Bruce, Steve and their associates to our growing 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 85 offices in 21 states. Please visit our website at: http://hilbgroup.com.