The Hilb Group, LLC has announced another acquisition in Massachusetts. On July 21, 2020, the Richmond-based middle-market insurance agency announced that it had purchased the Eldredge & Lumpkin (“E&L”) Insurance Agency, Inc., effective July 1, 2020.
“Dedication to our customers and exceptional service have been priorities for us since our founding in 1930,” said Alan Long. “With their continued expansion of solutions and resources, THG is the ideal firm for us to join. We are excited to be able to continue working with our customers, and to have access to an expanded array of services and expertise.”
Located in Chatham, E&L is a full–service agency primarily providing property and casualty insurance for personal lines to customers throughout the state. The E&L team, including Alan Long and Pat Long, Owners of E&L, will join THG of New England and continue to operate out of their existing location.
“The depth of knowledge and the loyalty Alan, Pat and their team have been able to foster with their customers will make them great additions to THG,” said Ricky Spiro, THG CEO.
Other Massachusetts insurance agencies THG has acquired since 2015
The latest insurance agency acquisition in Massachusetts marks THG’s second acquisition so far this year. Overall, however, it marks the eighteenth agency acquisition in the Commonwealth since 2015.
The following is a list of the Massachusetts-based agencies that the Hilb Group has announced since 2009. Since Agency Checklists only began reporting on M&As and this agency in particular in 2016, the 2015 transaction does not have a link.
- The Hilb Group Acquires Group Brokerage Insurance Agency (2020)
- Another Massachusetts Insurance Producer Joins The Hilb Group (2019)
- The Hilb Group Acquires Southborough-based G&N Insurance
- The Hilb Group Adds Massachusetts-based, The Incentive Group To Its Growing Massachusetts Base (2019)
- The Hilb Group Acquires The Handy-Apple Valley Agency (2019)
- New England-based 360 Corporate Benefit Advisors Bought By The Hilb Group (2019)
- The Hilb Group Acquires Massachusetts’ Marsh-Kemp Insurance Agency (2019)
- The Hilb Group’s December Hat Trick: Three Mass. Agencies Purchased In A Month (2018)
- The Hilb Group, LLC Adds Mackintire Insurance Agency, Inc. (2018)
- 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 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 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.”