The Hilb Group LLC (THG) has acquired HR Knowledge (HRK) in a transaction that became effective November 1, 2017. HRK is THG’s 40th acquisition since it was founded in 2009 and its 10th acquisition this year.
Located in Mansfield, Mass., HRK provides employers across the nation with integrated HR services including payroll, employee benefits, human resources management and benefits brokerage and administration.
Founded in 2001, HRK is one of the few brokers in the U.S. who has partnered with ADP to provide outsourced payroll and HR information management, utilizing ADP’s Workforce Now platform.
HRK’s managing directors, Ken Bettenhauser and Jeff Garr, and their team will continue to operate out of the firm’s existing location.
The partnership will play a key role in achieving the firm’s goal to deliver a comprehensive set of services and solutions to current and future clients, said Bettenhauser in a press release issued by The Hilb Group.
Garr added in the release that HRK views this move as an opportunity for its employees to build on the success and growth HRK has had over the years, and as a part of THG, its clients can now tap into a wider range of products, services and expertise to address their needs.
For The Hilb Group, CEO Ricky Spiro said in the release that HRK’s business model in the employee benefits space and track record of growth will complement and help expand its benefits operation across the organization.
The Hilb Group is a Top 50 middle market insurance agency headquartered in Richmond, Va., and is a portfolio company of Boston-based private equity firm, Abry Partners. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space.
Source: The Hilb Group
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