The Hilb Group, a middle market insurance agency based in Richmond, Virginia, announced Thursday that it has acquired Mahwah, New Jersey-based P.A. Post Agency LLC and its subsidiaries. Terms of the transaction, which became effective April 1, were not disclosed.
Through four generations of family ownership, P.A. Post Agency has specialized in transportation insurance services since its founding in 1915. It provides insurance products for all transportation classes, including school and charter buses, ambulances, limos and taxis.
The Hilb Group CEO Bob Hilb said the acquisition would help his agency grow its resources and ramp up its transportation practice considerably.
Brad Post, P.A. Post Agency president, will continue to lead the firm’s 43 employees under its existing name.
With the addition of P.A Post, The Hilb Group now has more than 500 staff members in 48 offices nationwide.
Established in 2009, The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. It is a portfolio company of Boston-based private equity firm, ABRY Partners.
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