Chicago-based brokerage Hub International Ltd. announced the acquisition of the assets of Commonwealth Insurance Agency Inc., headquartered in Lowell, Mass. The firm, with approximately $300,000 in annual revenue, was purchased for an undisclosed amount of cash.
Commonwealth specializes in arranging homeowners insurance for clients primarily in Massachusetts and will become part of the Company’s New England hub, C.J. McCarthy Insurance Agency Inc. in Wilmington, Mass., where Commonwealth will relocate. Edgar J. Sidon, Commonwealth’s owner, will become a vice president at McCarthy, reporting to President Richard J. Palleschi.
McCarthy is one of 11 regional “hubs” that make up the international
brokerage.
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