RICHMOND, Va., Feb. 28, 2017 /PRNewswire/ -- The Hilb Group, LLC (THG) announced today the acquisition of the group benefits division of Massachusetts-based Sapers & Wallack, Inc. (S&W). The transaction became effective February 1, 2017.
Located in the Boston area, S&W is comprised of specialists in group benefits, executive benefits, insurance, retirement plan consulting, and wealth management, who have been serving businesses and high net worth individuals throughout New England for more than 80 years.
As part of the transaction, the group benefits division with all of its current employees will join THG's New England employee benefits operations, led by Rob Calise. Tom Connors, current President of the S&W group benefits division, will be the Managing Director of the Boston office of THG of New England, which will remain at the current S&W location. S&W's President, Aviva Sapers, and Treasurer Ed Wallack, will continue to operate their company's executive benefits, insurance, retirement and wealth management divisions while collaborating with THG of New England to provide clients a full range of commercial insurance and employee benefits solutions.
S&W was advised in this transaction by Sica Fletcher, LLC.
"We are pleased to bring S&W's group benefits division and their associates to the growing Hilb Group of New England team," said Robert J. Hilb, Founder and CEO of THG. "Their expertise and market relationships will complement and help expand our benefits operation in the area."
"Joining THG is the right fit for our agency's group benefits division, our employees and our clients," said Aviva Sapers, President of S&W. "THG's agency structure will allow the division to retain our unique service model and workplace culture while also increasing access to the resources and expertise of a top 50 insurance brokerage."
"We are very excited for our group benefits division to be joining THG and view this move as an opportunity for our employees to build on the success and growth S&W has had over the last 80 years," added Ed Wallack, Treasurer of S&W. "As a part of THG, our clients will now have access to a wider range of products, services and expertise to address their needs."
About the Hilb Group: The Hilb Group is a leading middle market insurance agency headquartered in Richmond, Virginia and is a portfolio company of Boston-based private equity firm, ABRY Partners. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. Please visit our website at: http://hilbgroup.com.
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SOURCE The Hilb Group, LLC