THG is a portfolio company of Boston-based ABRY Partners
Another Massachusetts insurance agency has been acquired this week. Richmond-based, The Hilb Group, LLC, announced that it has acquired the Mackintire Insurance Agency, Inc. The transaction is already completed with the acquisition having become effective on December 1, 2018.
Founded in 1991, the Mackintire Agency has been a commercial and personal lines retail insurance agency located in Westborough, MA. In commenting on the sale of his agency, Mr. Mackintire noted the new opportunities and expanded portfolio of products that will now be available to his insureds.
“Joining THG is an excellent opportunity to expand our reach, ensure new opportunities for our associates, and provide more resources to our clients,” said Bob Mackintire. “We are looking forward to offering our clients the same level of customer service they have come to expect, while being able to collaborate with the great THG agencies across the nation.”
According to the terms of the transaction, both Bob Mackintire, Managing Director, and his associates will continue on with the agency, which will operate under the company’s existing name.
“Bob has built a great business with a culture, customer focus and commitment like ours, that will assist us in expanding our New England presence,” said Ricky Spiro, CEO of THG. “It is truly a pleasure to welcome Bob and his team to THG.”
The third Massachusetts acquisition for THG in 2018 and its seventh overall since 2015
With the addition of the the Mackintire Agency, THG has acquired a total of three Massachusetts-based agencies, two employee benefits firms, plus this P&C agency, in 2018. It also acquired three agencies here in 2017.
With this latest acquisition, the brokerage firm now has acquired a total of eight insurance agencies in the Commonwealth since 2015. The following is a list of the other Mass.-based agencies that the firm has acquired, along with links to Agency Checklists articles. Since we only started reporting on M&As and this agency in particular in 2016, the 2015 transaction does not have links.
- The Hilb Group Acquires Massachusetts DBR Group (2018)
- The Hilb Group Acquires BAR Insurance Brokerage of Needham (2018)
- Massachusetts’ HR Knowledge Acquired By The Hilb Group (2017)
- Massachusetts’s “Five Star” Agency, Mid-State Insurance, Purchased by THG (2017)
- The Hilb Group acquires Sapers & Wallacks (2017)
- The Hilb Group Acquires Hyannis’ Dowling & O’Neil (2016)
- Hilb Group Announces Acquisitions of Insurance Firms Gencorp and Cornerstone (2015)
THG is now a top 30 insurance agency in the United States
Formed in Richmond, Virginia in 2009, the Hilb Group has grown exponentially through targeted acquisitions in the middle market insurance brokerage space. With the addition of MSIA, the Group now has over 41 offices throughout ten states: Florida, Kentucky, Maryland, Massachusetts, New York, North Carolina, Tennessee, Texas, Virginia, and West Virginia.
In 2015, The Hilb Group became a portfolio company of ABRY Partners, a Boston-based equity fund. ABRY invests in high-quality companies and partners with management to help build their businesses. Since its founding in 1989, ABRY has completed over $42.0 billion of leveraged transactions and other private equity, mezzanine or preferred equity placements, representing investments in over 450 properties.
ABRY concentrates on industry sectors where they have substantial operating and investment experience and seeks to bring their industry insight to the investment process to understand key issues, accurately assess opportunity, and bring relevant information to bear. ABRY seeks to partner with skilled executives and invest significant capital to help build stronger companies that become industry leaders.