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Hilb Group Acquires Harvey Insurance Agency, Inc., Adds To Mid-Atlantic Presence

Jul 14, 2021•over 4 years ago

Acquiring Company

North Carolina-Based Life Health and Employee Benefits Business

Acquired Company

Harvey Insurance Agency

IllinoisHuman ResourcesEmployee Benefits

Description

The Hilb Group announced today that it has acquired Virginia-based Harvey Insurance Agency, strengthening its footprint within the Mid-Atlantic region. The transaction became effective July 1, 2021.

Company Information

Company

North Carolina-Based Life Health and Employee Benefits Business

Location

Illinois, United States

About

The Hilb Group is a leading property and casualty and employee benefits insurance brokerage and advisory firm headquartered in Richmond, Virginia. Hilb Group is a portfolio company of The Carlyle Group, a global investment firm. Hilb Group seeks to grow through strategic acquisitions and by leveraging its resources and expertise to drive organic growth in its acquired agencies. The company has completed more than 100 acquisitions and now has over 100 offices in more than 20 states. Hilb Group is rated as one of the Fastest Growing Brokers by Business Insurance, a Top P/C Agency by Insurance Journal, and one of America's Fastest Growing Private Companies in the Inc. 5000. For more information on Hilb Group's growth as well as career opportunities, please visit our website at http://hilbgroup.com. Media Contact: Peter Lobred 804.548.4629 plobred@hilbgroup.com M&A Contact: Ryan Havermann 804.414.6508 rhavermann@hilbgroup.com SOURCE The Hilb Group, LLC

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M&A Insights

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Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed