Serial Insurer Acquirer Hilb Group Bolsters Southeast Prescence with E/G Florida Acquisition
Hilb Group, a serial acquirer of independent insurance brokerages and agencies and a portfolio company of the Carlyle Group has acquired personal and commercial insurance agency E/G of Florida, a deal that further expands its growing presence in the Southeast.
Financial terms of the deal were not made available. The acquisition took effect January 1, 2023.
Based in Fort Lauderdale, with additional locations in Delray and Port St. Lucie, E/G of Florida’s principal Patrick Mulligan and his team will become part of Hilb Group’s Southeast operations.
“This move represents a tremendous next step for us – we are excited to join the Hilb Group and to have access to the broader support and resources that this partnership delivers,” said Patrick Mulligan.
Richmond, VA-based Hilb Group has completed more than 150 acquisitions with over 100 offices in 27 states. The firm’s previous majority owner – private equity house Abry Partners – sold its stake in the brokerage for approximately $1 billion including debt in 2019.
