The Hilb Group makes second December acquisition

Henrico County insurance company acquires William H. Connolly & Co. LLC

Published December 17, 2020 by Sydney Lake

In its second acquisition announcement this week, Henrico County-based insurance company The Hilb Group LLC (THG) has acquired Montclair, New Jersey-based insurance and risk management brokerage William H. Connolly & Co. LLC (WHC), effective Dec. 1.

Financial details of the acquisition were not disclosed.

Founded in 1950 by William H. Connolly Sr., WHC was owned and operated by his son, William H. Connolly Jr., prior to the acquisition. The company primarily provides property and casualty insurance to businesses, health care organizations, educational institutions, professional firms, not-for-profit organizations and social services agencies. William H. Connolly Jr. and his associates will work out of their existing New Jersey location.

“We look forward to strengthening our brand with THG,” Connolly said in a statement. “Our team is committed to continuing our organic growth with the enhancements and resources that THG can provide.”

Since 2015, THG has acquired more than 60 companies.

“Bill and his team have built an excellent reputation on providing great customer service and innovative solutions to their top-tier clientele,” THG CEO Ricky Spiro said in a statement. “WHC brings deep industry expertise and commitment to client services.”

THG was founded in 2009 and has been a portfolio company of Washington, D.C.-based investment management company The Carlyle Group since late 2019. Across its 90 offices in 21 states, the company employs more than 900 people.