Hilb Group Closes Successful Debt Financing Round
The Hilb Group recently announced a significant achievement in its financial strategy by securing approximately $2 billion in new financing. This infusion of capital is aimed at refinancing the company's existing debt, enabling it to enhance its Revolving Credit and Delayed Draw Term facilities. The additional financing is set to bolster Hilb's ongoing acquisition strategy by providing more than $500 million in new debt capacity specifically earmarked for mergers and acquisitions.
Strategic Growth and Expansion
Since Carlyle's acquisition in 2019, Hilb Group has witnessed remarkable growth characterized by both organic initiatives and strategic acquisitions. Over the past several years, the company has completed more than 100 acquisitions, successfully establishing itself as a diversified and integrated platform within the insurance industry. With over 100 offices across multiple states and a workforce exceeding 2,400 associates, Hilb serves a vast clientele comprising over 330,000 customers across various segments such as Property & Casualty and Employee Benefits.
Acknowledged Industry Leader
In 2023, Hilb's achievements were recognized as it garnered impressive rankings within the industry. The firm was named as the 23rd largest insurance broker in the United States by a leading industry magazine and ranked as the 18th largest Property & Casualty agency by another prominent title. Furthermore, for ten consecutive years, Hilb has been featured in the top 5,000 fastest-growing private companies in America according to a well-known business magazine.
Leadership Comments on Growth Strategy
Ricky Spiro, the CEO of Hilb Group, expressed enthusiasm regarding the company's growth trajectory. He emphasized the strategic importance of the newly secured financing, stating, "We are excited to continue executing our growth strategy and to build on our track record of introducing high-quality agencies to the Hilb platform." Spiro further added that the new financial facility provides flexibility and strength, allowing the company to invest further in talents that align with Hilb's culture and operational approach.
About Hilb Group
Established in 2009, the Hilb Group is an influential player in the Property & Casualty and Employee Benefits insurance brokerage and advisory sector. The firm is headquartered in a prominent location and stands as a portfolio company of Carlyle, a global investment firm known for its diverse investment strategies. Hilb Group aims to fuel its growth via strategic acquisitions while leveraging its considerable resources and expertise to drive organic growth within its acquired agencies. Over the years, it has successfully completed over 180 acquisitions and now boasts more than 125 offices across multiple states. The organization has consistently been recognized for its rapid growth and has received several accolades in the insurance sector.
Media and Contact Information
For inquiries, the media contact is Peter Lobred, available at 804.548.4629. For mergers and acquisitions inquiries, reach out to Ryan Havermann at 804.414.6508.
Frequently Asked Questions
1. What recent financial milestone has Hilb Group achieved?
Hilb Group has secured approximately $2 billion in financing to refinance existing debt and enhance its credit facilities for growth and acquisitions.
2. How many acquisitions has Hilb Group made since its acquisition by Carlyle?
Since being acquired by Carlyle in 2019, Hilb Group has completed over 100 acquisitions, significantly expanding its operations.
3. In which sectors does Hilb Group operate?
Hilb Group operates in the Property & Casualty and Employee Benefits sectors, providing a wide range of insurance brokerage and advisory services.
4. Who is the CEO of Hilb Group?
Ricky Spiro is the current CEO of Hilb Group, guiding the company through its growth strategy and expansion initiatives.
5. What recognitions has Hilb Group received in its industry?
Hilb Group has been ranked as the 23rd largest U.S. insurance broker and has been recognized for ten consecutive years in the top 5,000 fastest-growing private companies.
