The Hilb Group, a middle market insurance agency based in Richmond, Virginia, announced Tuesday that it has acquired Clark-Mortenson Insurance, a New Hampshire-based insurance and financial services agency. The terms of the transaction, which became effective April 1, were not disclosed.
Founded in 1877, Clark-Mortenson Insurance has six locations across New Hampshire and Vermont. The agency serves clients with a variety of personal and business insurance options with specialties in hospitality, eldercare, residential health facilities and technology.
The Hilb Group President and CEO Bob Hilb said adding Clark-Mortenson Insurance expands and strengthens The Hilb Group’s presence in New England.
Tom Minkler, Clark-Mortenson Insurance president, will continue to lead the agency’s 48 employees under its existing name.
With the addition of Clark-Mortenson Insurance, The Hilb Group now has more than 570 associates 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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