Hilb Group Announces Successful Completion of Debt Refinancing, Reinforcing Growth Strategy and Capability

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Oct 31, 2024, 16:05 ET

RICHMOND, Va., Oct. 31, 2024 /PRNewswire/ -- The Hilb Group (Hilb) announced today that it has successfully secured a ~$2 billion round of financing to refinance its existing debt and upsize its Revolving Credit and Delayed Draw Term facilities. The financing will support Hilb's continued acquisition and growth strategy by adding over $500 million of debt capacity available for M&A.

Since its acquisition by Carlyle in 2019, Hilb has grown significantly through both organic growth and acquisitions. The Company has completed over 100 acquisitions since Carlyle's initial investment and has successfully created a diversified, fully integrated platform. Today, Hilb has achieved significant scale with 100+ offices in 30 states and 2,400+ associates serving 330,000+ clients nationwide across Property & Casualty and Employee Benefits. In 2023, Hilb was ranked as the 23^rd largest U.S. insurance broker by Business Insurance magazine and as the 18^th largest P&C agency in the U.S. by Insurance Journal. For the 10^th year in a row, Hilb was also named in Inc. magazine's list of the top 5,000 fastest growing private companies in America.

"We are excited to continue executing on our growth strategy and to build on our track record of introducing high-quality agencies to the Hilb platform," said Ricky Spiro, CEO of Hilb. "The new facility will provide us with the strength and flexibility to stay focused on investing in talented individuals who align with our culture and approach."

About The Hilb Group: The Hilb Group is a leading Property & Casualty and Employee Benefits insurance brokerage and advisory firm headquartered in Richmond, Virginia. The Hilb Group is a portfolio company of Carlyle, a global investment firm. Hilb Group seeks to grow through strategic acquisitions and by leveraging its resources and expertise to drive organic growth in its acquired agencies. Since its founding in 2009, the Company has completed more than 180 acquisitions with over 125 offices in 30 states. Hilb Group is rated as one of the Fastest Growing Brokers by Business Insurance, a Top P&C Agency by Insurance Journal, and one of America's Fastest Growing Private Companies in the Inc. 5000. For more information on Hilb Group's growth as well as career opportunities, please visit our website at http://hilbgroup.com.

Media Contact:
Peter Lobred
804.548.4629
[email protected]

M&A Contact:
Ryan Havermann
804.414.6508
[email protected]

SOURCE The Hilb Group, LLC