US-based insurance brokerage and financial services firm Hub International Limited is further accelerating its acquisition spree with the purchase of Shaver-Robichaux Agency.
The deal, whose financial terms were not revealed, expands the commercial and personal insurance capabilities of the Chicago-headquartered Hub.
Shaver-Robichaux, which has a presence in Thibodaux and Raceland in Louisiana, is an independent agency offering commercial and personal insurance solutions.
Its offerings include home, auto, health, life and recreation insurance.
As part of the acquisition, Shaver-Robichaux principal John Shaver and his team will join Hub Gulf South.
Commenting on the deal, Shaver said: “Hub is a perfect fit for us, and we are excited to join a firm with such critical mass to better serve clients. We will accomplish a lot for our clients as a result of this partnership.”
Hub Gulf South president Shaun Norris said: “Shaver-Robichaux is a highly-regarded agency that will add great depth to our team.
“They will make our strong firm even stronger and deeper. We are very fortunate to have them join Hub.”
Hub’s M&A Activities
Hub, which provides risk management, insurance, employee benefits, retirement and wealth management products and services, currently has more than 14,000 employees in offices located throughout North America.
In recent years, the firm has been bolstering its geographic footprint and rapidly expanding its industry and product expertise via organic growth as well as acquisitions.
Last month, Hub acquired the assets of the independent employee benefits advisory firm Alexander & Company, which caters to the public sector.
Its recent acquisitions include Sandy Spring Insurance, Spofford Group Insurance Brokerage, JP Griffin Companies and GRP Financial California among others.