The Hilb Group that it has successfully secured an approximately $2 billion round of financing to refinance its existing debt and expand 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.
“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.”
According to a press release, since its acquisition by Carlyle in 2019, Hilb has grown “significantly through both organic growth and acquisitions.” The Richmond, Virginia-based brokerage has completed over 100 acquisitions since Carlyle’s initial investment.
Hilb has more than 100 offices across 30 states. Over 2,400 Hilb associates serve more than 330,000 property & casualty and employee benefits clients nationally.
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