Hilb Group acquires Vt. insurance agency
Henrico County firm purchases Paige & Campbell Inc.
Henrico County-based insurance company the Hilb Group LLC announced Thursday it has acquired Vermont-based Paige & Campbell Inc. and its subsidiary the Taylor-Palmer Agency.
Financial terms of the transaction were not disclosed.
“Paige & Campbell brings a long-standing history of expertise, a reputation of outstanding service and extensive relationships that represent a terrific match for our growth strategy,” Hilb Group CEO Ricky Spiro said in a statement. “We are pleased to welcome them to the Hilb Group and look forward to our next steps together.”
Founded in 1906 as Paige & Place, Paige & Campbell Inc. is based in Barre, Vermont, and has offices in Bristol, Bradford and Waitsfield, also in Vermont. Paige & Campbell’s 15 employees, including Principals Steven and Jonathon Shea, will join the Hilb Group’s New England regional operations.
“Joining the Hilb Group is an important step for us in continuing to grow and deliver the best products to our clients,” Steve Shea said in a statement. “Our partnership will provide access to greater national resources for both our agency and our customers.”
The Hilb Group was founded in 2009 and has been a portfolio company of Washington, D.C.-based investment management company The Carlyle Group since 2019. Across its more than 100 offices in 22 states, Hilb employs more than 2,000 people and has acquired more than 130 companies.
Gov. Glenn Youngkin formerly served as co-CEO of The Carlyle Group. He retired in 2020.