Clark & Lavey Benefits Solutions, Inc. and InCap is based in Merrimack
With only weeks left in 2021, the Hilb Group has announced another agency acquisition in New England. Effective November 1st, the Richmond-based insurance brokerage firm announced its acquisition of Clark & Lavey Benefits Solutions, Inc.
“The addition of Clark & Lavey represents a perfect fit for our growth strategy,” said Hilb Group CEO Ricky Spiro. “The depth of knowledge and loyalty Paul Clark and his team have been able to foster with their customers – through a true commitment to unique, innovative products and offerings – represents a great addition to our employee benefits team and the expert service that the Hilb Group delivers.”
Based in Merrimack, New Hampshire, Clark & Lavey was founded by Paul Clark in 1997 as an independent agency focusing on employee benefits and services. In addition to Clark & Lavey, the acquisition also includes InCap, the independent agency’s own medical captive solution. According to the official release, InCap provides “…an alternative to traditional health insurance plans that offers additional control and helps to lower costs and reduce risks, as well as annual profit distributions to member companies.”
“For more than two decades, we have been fortunate to experience steady growth through innovation, and we look forward to building on that success as we join the Hilb Group,” said Paul Clark. “We are excited to continue to develop customer-focused strategies while staying true to our dedication to delivering the best in customized solutions for our clients.”
According to the terms of the transaction, agency principal Paul Clark and his team of insurance professionals will join the Hilb Group’s New England regional operations. In addition to Clark & Lavey, the acquisition also includes InCap, the independent agency’s own medical captive solution.
THG continues to grow its presence throughout New England
The following is a list of the Massachusetts-based agencies that the Hilb Group has acquired since 2015. Since Agency Checklists only began reporting on M&As and this agency in particular in 2016, the 2015 transaction does not have a link. In addition, prior to this year we did not cover agency acquisitions outside Massachusetts, as such, additional acquisitions by THG in New England are not reflected below.
- The Hilb Group Acquires Forrest Insurance Agency
- Hilb Group Completes Acquisition Of D.F. Dwyer & Associates, LLC
- The Hilb Group Adds MillBrook Benefits And Insurance Services To Its Growing List Of Massachusetts Acquisitions (2021)
- Compass Planners Joins Forces With The Hilb Group (2021)
- Chatham’s Eldredge & Lumpkin Sold To The Hilb Group (2020)
- 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.”