US-based Hilb Group has announced the acquisition of King and Cushman Agency expanding its presence in the property and casualty market of New England.
The financial value of the deal was not disclosed.
The acquired firm is based in Northampton, Massachusetts and has operated in the area for around 100 years.
It offers property & casualty offerings to clients in both commercial and personal lines of business.
As part of the deal, agency principal Scott King and his team will join Hilb Group’s New England regional operations.
King said: “Joining the Hilb Group presents an exciting opportunity for our business and those we serve. We look forward to providing the same local, trusted service, while ultimately delivering even greater solutions, resources, and value to our customers.”
Hilb Group CEO Ricky Spiro said: “We are pleased to welcome King and Cushman to the Hilb Group. With a terrific reputation and long-standing community ties, they represent a perfect complement to our growth strategy of teaming with strong partners who have developed solid relationships with their local client base. We look forward to our next steps together.”
Hilb, which is a portfolio company of the Carlyle Group, is said to have wrapped up over 135 acquisitions with more than 100 offices in 22 states of the country.
In June, Hilb bought Howe-LaGrange Insurance Agency and Reick Insurance Agency to strengthen its presence across Indiana and the Midwest in the US.