Insurance broker Hilb Rogal & Hobbs Company said it has agreed to buy substantially all of the assets of Thilman & Filippini, L.L.C., a Chicago-based insurance agency and brokerage firm.
With 2005 gross revenues of approximately $24 million, Thilman Filippini provides property and casualty and employee benefits insurance products and services.
The Thilman Filippini team of more than 130 professionals will continue to serve clients from its downtown Chicago office under the leadership of its existing partners, E. Thomas Thilman, Thomas W. Filippini, John M. Atkinson, Peter J. Kunz and Eric M. Mezmar and the existing management.
The operation will become part of HRH’s Midwest Region led by HRH Vice President and Midwest Regional Director John P. (Jack) McGrath.
This transaction, subject to approval under the Hart-Scott-Rodino Antitrust Improvements Act, is expected to be completed by August 1, 2006. Terms of the transaction were not disclosed.
With completion of the Thilman Filippini transaction, HRH will have acquired more than $35 million in revenues (based on 2005 financial results) from four transactions in 2006.
Source: HRH
Topics Mergers & Acquisitions
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