TRANSACTION MARKS INSURANCE M&A ADVISORY FIRM’S 13th
TRANSACTION OF 2015
New York, NY, June 26 2015–The Hilb Group, LLC has announced that leading private equity firm ABRY Partners, headquartered in Boston, Mass., has completed a significant investment in the insurance group. Sica | Fetcher LLC facilitated the transaction and acted as The Hilb Group’s exclusive financial advisor.
The partnership with ABRY Partners will provide continued funding of The Hilb Group’s national expansion program. Since 2010, The Hilb Group has acquired 15 firms in nine states through a strategy of targeted acquisitions and strategic alliances in the middle-market insurance brokerage space. The Hilb Group’s current private equity partner, BHMS Investments, LP, will exit the business.
The transaction is Sica | Fletcher’s 13th closed transaction of 2015 and 39th closed transaction since the firms inception 18 month ago. Robert J. Hilb, President & CEO of The Hilb Group commented. “Most great deals have a great deal maker behind the scenes, and ours was no different,” continued Hilb. “Al Sica, Managing Partner of Sica | Fletcher, LLC, knew that ABRY would be the perfect fit for The Hilb Group. He was right. All of us appreciate Al and his team’s efforts to make this deal a reality.”
About Sica | Fletcher, LLC: Strategic and financial advisory firm focused exclusively on the insurance industry. The firm was founded by Michael Fletcher and Al Sica, two of the industry’s leading deal makers who have advised on over $1 billion in insurance agency and brokerage transactions since January 2012.
About ABRY Partners: Founded in 1989 and headquartered in Boston, Ma., ABRY Partners is an experienced and successful media, communications, business and information services focused private equity investment firm in North America. Since its founding, ABRY has completed more than $42 billion of transactions, representing investments in more than 450 properties.
About The Hilb Group: The Hilb Group is a leading middle market insurance agency headquartered in Richmond, Va. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. The company now has 29 offices in Florida, Georgia, Kentucky, Maryland, New York, North Carolina, Tennessee, Texas, Virginia, and West Virginia. Please visit our website at: http://hilbgroup.com/.
About BHMS Investments, LP: BHMS is a private investment firm focused on the North American lower middle market. The firm was founded in 2010 and is based in New York City. BHMS will consider investing in a wide variety of control opportunities from acquiring companies in financial distress to conventional leveraged buyouts. The BHMS mandate and Partner experience includes investing across all sectors of the economy.
For more information:
Sica | Fletcher, LLC
(516) 967 – 1958
Source: Sica | Fletcher, LLC
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