Richmond, VA — October 31, 2024 — 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 23rd largest U.S. insurance broker by Business Insurance magazine and as the 18th largest P&C agency in the U.S. by Insurance Journal. For the 10th 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.”