Its primary purpose will be to promote strategic expansion.
A $2 billion fundraising deal has been completed by the Hilb Group (Hilb) to increase its Revolving Credit and Delayed Draw Term facilities and repay existing debt.
Hilb’s expansion strategy can be pursued through mergers and acquisitions with the help of this strategic financing, which provides over $500 million in available loan capacity.
The company has expanded through more than 150 acquisitions since Carlyle bought it in 2019 and has developed a diversified, fully integrated platform.
In the property and casualty and employee benefits industries, Hilb now has more than 100 locations in 30 states and employs more than 2,400 colleagues who work with more than 330,000 clients nationwide.
The Virginia-based broking group has lately expanded its expansion, acquiring property and casualty companies in Texas and Alabama as well as a workplace enrolment company in Colorado.
Hilb has soared into a dominant position in the market thanks to its bold step for small businesses.
“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,” stated Ricky Spiro, CEO of Hilb.
The new credit facility will give the firm the strength and flexibility to continue investing in outstanding people who fit with Hilb’s culture and strategy, according to the CEO, who expressed optimism about it.
In order to offer pertinent insurance solutions and improve client service, the firm has also been investing in talent development and technological infrastructure.
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