The news was announced via the agency’s social media profiles
While The Hilb Group announced this week that it has been sold to The Carlyle Group, the latest news from Massachusetts shows that while it may have new owners, the national brokerage firms has no plans to slow down its rate of agency acquisitions.
A case in point. As Agency Checklists was finishing its article on The Hilb Group’s announcement this week, the co-founders of the G&N Insurance made the following announcement on the agency’s social media profile pages:
Welcome to Chapter 2 of G&N Insurance
We are thrilled to announce our partnership with The Hilb Group!
For 2020 and beyond, The Hilb Group will help us accomplish our goals of helping individuals purchase real estate in New England. After careful consideration, we’ve determined partnering with The Hilb Group, one of the Top 10 Fastest Growing Insurance Brokers in the US, will give us the best chance to accomplish our long-term goals.
What changes at G&N Insurance? We grow.
We continue to build our unique, bold culture.
Matt, Zack, and the entire team will be working as hard as ever to support the real estate community, our clients, our vendor partners, and our insurance agent community.
We’re not striving to be the “best”. We want to matter when you purchase real estate. We want to matter when you have an insurance claim. We want to matter when your auto and homeowners policies are about to renew and you’re looking for someone to help you find the best solution available.
Today is Chapter 2. We’re ready…
Matt Naimoli & Zack GouldCo-founders of G&N Insurance
A scratch agency that found success by focusing on a niche market
G&N Insurance’s beginning began back in 2010 when two Liberty Mutual representatives, Zack Gould and Matt Naimoli, decided to start a scratch agency together Southborough. Fast forward to 2019, and the agency that began with only one appointment from Mapfre has grown into a 40+ person agency with locations both in Boston and Southborough and agency appointments with more than 26 carriers. By focusing their energies on creating a niche agency
The agency has been a leader, both locally and nationally, in creating a niche agency through referral-based relationships. In particular, the agency early on focused on its niche of providing home and auto insurance to those individuals involved in the home-buyer process.
As a result, G&N Insurance has been nationally recognized for its achievements in not only building a successful scratch insurance agency, but a strong company culture and brand identity. They have spoken at national agent conferences such as Agency Nation’s Elevate and in 2019, alone, the agency was profiled as a Rough Notes an Agency of the month and on the Inc. 5000 list.
This is the fifth acquisition for THG in Massachusetts in 2019 and its 14th since 2015
With the addition of G&N Insurance, THG has acquired five Massachusetts-based insurance agencies in 2019. Overall, the brokerage firm has acquired 14 independent insurance agencies in the Commonwealth since 2015. The following is a list of the other Mass.-based agencies that the firm has acquired, linked to the corresponding Agency Checklists article. Please note that since Agency Checklists only began tracking agency acquisitions in 2016, the 2015 transaction listed does not have links as it was not reported on our website.
With this latest acquisition in Massachusetts, THG’s is further expanding its geographic footprint throughout the state.
- The Hilb Group, LLC Acquires Massachusetts-based, The Incentive Group, LLC
- The Hilb Group Acquires Massachusetts’ Agency Handy-Apple Valley, LLC (2019)
- New England-based 360 Corporate Benefit Advisors Bought By The Hilb Group (2019)
- The Hilb Group Acquires Another Massachusetts Insurance Agency, It’s First Of 2019
- The Hilb Group’s third Massachusetts agency acquisition for the month is Knight International
- The Hilb Group’s second Massachusetts agency acquisition for the month, The Bruce Crohn, LLC
- The Hilb Group, LLC Adds Mackintire Insurance Agency, Inc.
- 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. THG now boasts now has over 90 offices throughout 21 states including: 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. In October 2019, The Hilb Group itself was sold to The Carlyle Group in a deal valued at a over a billion dollars. For those interested in reading more about this deal, please refer to Agency Checklists’ November 5, 2019 article entitled, “The Hilb Group Is Sold To The Carlyle Group.”