The Hilb Group acquires Maryland insurance agency
Martens Johnson Agency is the latest acquisition by the fast-growing Henrico insurance firm.
Henrico County-based insurance company The Hilb Group LLC (THG) announced Wednesday the acquisition of Maryland-based Martens Johnson Insurance Agency Inc.
The transaction that took effect Jan.1. Financial terms of the acquisition were not disclosed.
Martens Johnson is a full-service insurance agency specializing in serving the commercial transportation industry. THG —a portfolio company of Washington, D.C.-based investment management company The Carlyle Group — is a middle-market insurance brokerage and has acquired more than 60 companies since 2015. The Carlyle Group acquired THG in late 2019.
Since July 2019, THG has acquired insurance companies including New York-based BR Vital Brokerage Inc., Pennsylvania-based Greenwald Berk Agency LLC, Massachusetts-based The Incentive Group LLC, New York-based Avanti Associated Ltd., Massachusetts-based Gould & Naimoli Partners LLC, North Carolina-based Employee Benefit Advisors of the Carolinas LLC and Rhode Island-based Wickford Insurance Agency Inc.
“After establishing a strong track record and solid customer relationships in our area, we gain new opportunity to add more customer solutions and resources as part of THG,” Martens Johnson agency leader Bryan Johnson said in a statement. “We are enthusiastic about the potential to grow in the THG organization.”
Founded in 2009, THG has more than 90 offices in 21 states employing more than 900 people.