Richmond area insurance agency acquires Carolina firm

Henrico County-based The Hilb Group announced Tuesday it had acquired the South Carolina-based Huckaby & Associates Inc. The transaction went into effect on Dec. 1. Terms were not disclosed.

“Huckaby's strong South Carolina presence supports the growth of our Southeast footprint,” said Ricky Spiro, CEO of The Hilb Group, in a news release.

The Hilb Group is a middle market insurance agency with 64 offices in 17 states. It is a portfolio company of the Boston-based private equity firm Abry Partners.

Huckaby was founded in 1976 and provides property and casualty insurance to businesses and individuals. It operates in South Carolina, North Carolina and Georgia. Huckaby specializes in commercial business insurance, automobile insurance and homeowners’ insurance coverage.

Managing Director Joey Huckaby will continue to lead Huckaby’s associates at Huckaby’s existing location in Columbia, S.C.

“We wanted a partner that would expand Huckaby's services and programs to help meet the needs of our clients and associates, positioning us for continued growth,” Huckaby said in the release.

The Hilb Group says it looks to grow through acquisitions. In June the company acquired the Massachusetts-based BAR Insurance Brokerage Inc.