The Hilb Group LLC, a portfolio company of Abry Partners, has acquired Moorefield, West Virginia-based Summit Insurance Services, a provider of employee benefits solutions. No financial terms were disclosed.
RICHMOND, Va., May 7, 2019 /PRNewswire/ — The Hilb Group, LLC (“THG”) announced today the acquisition of Summit Insurance Services, LLC (“SIS”), the insurance operations of Summit Financial Group, Inc. of Moorefield, West Virginia. The transaction became effective May 1, 2019.
Virginia-based SIS is an insurance agency that primarily provides employee benefits solutions to businesses and individuals throughout the Mid-Atlantic region. SIS will continue to do business under their existing name and remain in their current offices in Leesburg, Virginia and Moorefield, West Virginia.
“We believe that joining THG is an excellent way for all associates at SIS to continue to grow in the years ahead,” said Charles Maddy, Summit Financial Group President & CEO. “We are proud of the accomplishments that we achieved within the agency and wish the SIS team continued success.”
“By becoming a part of a dynamic and growing insurance organization, this transition will create enormous opportunity for all SIS employees,” said Ricky Spiro, THG CEO. “With our combined resources we can expand the product offerings and expertise available to all SIS customers. We are thrilled to have SIS join THG as we further expand our Mid-Atlantic region.”
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 77 offices in 18 states. Please visit our website at: http://hilbgroup.com.