The Hilb Group has acquired a property and casualty (P&C) insurance firm in Louisiana, extending its streak of mergers and acquisitions (M&A) following a recent refinancing move that boosted the company’s capacity for future deals. The acquisition took effect on November 1, but financial details were not disclosed.
The acquisition followed Hilb Group’s successful debt refinancing, which added over $500 million in debt capacity to the revolving credit and delayed draw term facilities. This move strengthened Hilb’s resources for ongoing and future M&A efforts.
Hilb Group CEO Ricky Spiro expressed enthusiasm for the company’s growth. “We are excited to continue executing on our strategy and building on our track record of adding high-quality agencies to the Hilb platform,” said Spiro. He noted that the new financial arrangement allows for continued investment in talent aligned with Hilb’s culture and objectives.
Since Carlyle acquired Hilb Group in 2019, the company has completed over 100 transactions and added more than $2 billion in financing to fuel expansion. Founded in 2009, Hilb employs over 2,400 people across 100 offices in 30 states, serving over 330,000 clients in P&C insurance and employee benefits.
The Louisiana acquisition follows recent deals, including a P&C business in Alabama, a Medicare book in Rhode Island, a worksite enrollment business in Colorado, and a New England-based P&C book. These deals highlight Hilb Group’s commitment to expanding its U.S. footprint in key insurance market segments.
Hilb Group’s aggressive M&A activity shows its focus on scaling up by integrating firms that align with its culture and expertise. With the recent refinancing, Hilb is well-positioned to continue its acquisition strategy, boosting capacity and flexibility to grow its national insurance presence.