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Sydney Lake// November 19, 2019//
Henrico County-based insurance broker The Hilb Group has acquired a North Carolina-based full-service employee benefits agency.
The Hilb Group bought Employee Benefit Advisors of the Carolinas LLC in a deal that closed on Nov. 1, THG announced Tuesday.
Financial details of the deal were not disclosed.
EBA specializes in small to mid-market employee benefits and offers health, dental, life, disability and other employer-sponsored benefits.
Hilb Group said Employee Benefit Advisors of the Carolinas would join its Southeast operations and Employee Benefit Advisors' principal, Suzy Johnson, would work alongside Hilb Group to grow its regional benefits division.
Founded in 2009, The Hilb Group has more than 90 offices in 21 states, and has been a portfolio company of Boston-based private equity firm Abry Partners since 2015.
The Carlyle Group, a Washington, D.C.-based global investment firm, announced in late October that it would acquire a majority interest in The Hilb Group by the end of the year. An official date has not been announced for the acquisition.
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