The Hilb Group has expanded its geographic footprint in New England, with its latest acquisition of New England-based 360 Corporate Benefit Advisors (“360CBA“). This marks the second Massachusetts agency, THG has acquired in 2019
“THG provides us with an opportunity to benefit from the financial strength and resources of a national broker and to considerably enhance the services we can offer to our clients,” said Paul Lambert. “This is the beginning of an exciting new chapter for 360CBA, our team, and our clients.”
Focused primarily on the Northeast, 360CBA is an employee benefits consulting firm offering insurance brokerage, administration, and advisory services to businesses. The brokerage has two office locations in Fairfield, CT, and Wayland, MA.
As a result of the transaction, effective as of May 1st, 2019, all of 360CBA’s former employees, including Agency Leaders Paul Lambert, Sean Carney, Jason Jaworoski and Steve Nadeau, will join THG officially. Going forward, 360CBA will continue to operate as 360CBA.
“As we continue to grow, we are seeking partners who will advance our scope of services as a leading national insurance broker,” said Ricky Spiro, THG CEO. “360CBA will further strengthen our employee benefits capabilities with their team of highly-regarded and widely-recognized industry veterans with over 100 years of collective benefits experience. We are excited to welcome the 360CBA team to our growing family.
Other Massachusetts insurance agencies THG has acquired since 2017
The following is a list of the insurance agencies and brokerage firms THG has acquired here in Massachusetts since 2017. Please note, while Agency Checklists has done it best to track these acquisitions, it may not be a complete list.
- Massachusetts’ HR Knowledge Acquired By The Hilb Group (2017)
- The Hilb Group Acquires BAR Insurance Brokerage of Needham (2018)
- The Hilb Group Acquires Massachusetts DBR Group (2018)
- The Hilb Group, LLC Adds Mackintire Insurance Agency, Inc. (2018)
- The Hilb Group’s December Hat Trick: Three Mass. Agencies Purchased in a Month (2018)
- The Hilb Group Acquires Another Massachusetts Insurance Agency, It’s First Of 2019
How The Hilb Group has grown through acquisitions
In 2015, The Hilb Group became a portfolio company of ABRY Partners, a Boston-based equity fund headquartered at 888 Boylston Street.
ABRY invests in high-quality companies and partners with their 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.
According to ABRY, its strategy concentrates on industry sectors where they have substantial operating and investment experience and seek to bring their industry insight to the investment process.
In the case of ABRY’s investments in The Hilb Group, it notes the strategy is “to grow through targeted acquisitions in the middle market insurance brokerage space.” ABRY and The Hilb Group that they “will continue this strategy, as the insurance industry remains highly fragmented and prime for consolidation.”