The Hub Group Ltd., based in Toronto, has signed a letter of intent to acquire C.J. McCarthy Insurance Agency of Boston, Mass. The agency was founded by the McCarthy family in 1867 and has annual commission revenue of roughly $12 million. Hub Group will issue common shares in partial consideration of the purchase price on closing, subject to regulatory approval. The closing is anticipated to be completed on or about May 15.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Developer Downplays Structural Concerns at ‘Unstable’ Midtown Manhattan Tower 
New Autopsy of Baby Killed by Police in Mississippi Deepens Outrage 
Tech and Finance Sectors Losing 28,000 Jobs Monthly Show AI Impact on Labor 
Hellman & Friedman’s Hub International Seeks $3 Billion in IPO 
