The Hilb Group Acquires Newman
Sica | Fletcher advises The Charles J. Newman Company, LLC (“Newman”) in its sale to
The Hilb Group (“Hilb”).
Overview of Transaction
Founded in 1995, Newman is a retail employee benefits-focused independent agency located in the Peekskill, New York.
Newman serves as broker and advocate for its clients, providing group health, ancillary benefits, voluntary insurance, and compliance support.
Newman has joined forces with The Hilb Group, one of the fastest-growing top 100 Independent Property/Casualty Agencies.
Significance of Transaction
The acquisition of Newman follows recent employee benefits-focused acquisitions made by Hilb over the past few months. The acquisition will allow Hilb to bolster its employee benefits practice with a strong team of highly-motivated specialists.
The transaction will provide the Newman team with an expansive suite of corporate resources and support. It will also provide Newman with access to Hilb’s national partner network, offering Newman many additional cross-selling opportunities.
Sica | Fletcher's Role
Sica | Fletcher was hired to serve as exclusive strategic and financial advisor to Newman and explored multiple options for the firm before partnering with Hilb.
This transaction further elucidates Sica | Fletcher’s unparalleled relationships with private equity firms and the brokerages they support.