The Hilb Group Acquires Greenwald Berk Agency

Sica | Fletcher guides Pennsylvania-based Greenwald Berk Agency in its sale to the Hilb Group.

Overview of Transaction

  • Greenwald Berk Agency (“GBA”) was founded in 1912 by Max Berk with a vision to provide clients with the highest quality insurance services combined with the lowest rates available.

  • Based out of Kingston Pennsylvania, GBA offers a full spectrum of business insurance, personal insurance and life/health products and services. This acquisition will establish THG’s first location in Pennsylvania.

  • Bob Greenwald, agency leader, will continue to lead GBA’s associates out of the Kingston location following the transaction.

  • GBA agreed to be acquired by the Hilb Group, a top 30 insurance agency.

 

Significance of Transaction

  • The Greenwald Berk acquisition expands The Hilb Groups reach on the east coast.

  • The Hilb Group is a middle market insurance agency headquartered in Richmond, Va., and is a portfolio company of Boston-based private equity firm, Abry Partners. The company now has more than 80 offices in 20 states.

  • This deal allows GBA to maintain its reputation as a premier agency in the area by expanding the resources available to clients and associates.

Sica | Fletcher's Role

  • GBA engaged Sica | Fletcher to explore multiple strategic options for the firm.

  • The GBA transaction builds on Sica | Fletcher's track record of success across the Commercial & Personal lines space.

  • This transaction further highlights Sica | Fletcher’s strong relationships with top-tier investors, having worked with The Hilb Group on numerous deals.

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Contact Details

MICHAEL J. FLETCHER

Managing Partner

516.967.1958

mjf@sicafletcher.com

ALEXANDER W. SICA

Managing Partner

201.805.1561

al@sicafletcher.com

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