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Carlyle Group buys Hilb Group from PE firm

Private equity firm The Carlyle Group has agreed to acquire The Hilb Group LLC from Boston-based private equity firm Abry Partners LLC, the Richmond, Virginia-based brokerage Hilb said on Wednesday.

Terms of the transaction were not disclosed, but recent reports put a potential sales tag of $1 billion on Hilb, amid a continuing record pace of M&As and valuations in the insurance brokerage sector.

The deal is expected to be completed in the fourth quarter of 2019, subject to regulatory approvals…….Read More