Overview of Transaction

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• The Hilb Group (THG) has signed a definitive agreement with global investment firm The Carlyle Group (NASDAQ: CG) for investment funds affiliated with Carlyle to acquire a majority interest of Hilb.

• Founded in 2009, The Hilb Group has been recognized as one of the fastest growing private companies by Inc. Magazine in 2017, ranked a Top 10 fastest growing broker in 2017 by Business Insurance magazine, and a Top 100 P/C Agency by Insurance Journal magazine in 2019. The Hilb Group employs more than 900 associates and operates 91 branch offices serving all 50 states.

• Abry Partners, a Boston-based private equity firm, invested in The Hilb Group in 2015 and worked closely with management to grow the business into one of the Top 10 insurance brokers in the U.S.

• The Carlyle Group is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. With $223 billion of assets under its management as of June 30, 2019, The Carlyle Group employs more than 1,775 people in 33 offices across six continents. 

 

Significance of Transaction

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• The Carlyle Group's additional capital and resources will significantly benefit The Hilb Group and its associates as they grow their businesses organically and through targeted M&A opportunities. The transaction will propel The Hilb Group as it expands into new geographies and product lines to serve the increasingly complex needs of its clients.

• The investment by The Carlyle Group is a strong endorsement of The Hilb Group’s growth strategy and represents an exciting next chapter for the company. The Hilb Group's existing management team and employee partners are expected to remain significant shareholders. 

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Sica | Fletcher's Role

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• Sica | Fletcher was hired to serve as strategic and financial advisor to The Hilb Group. Through a collaborative approach, multiple options were explored for the firm, culminating in its sale to The Caryle Group.

• The Hilb Group transaction builds on Sica | Fletcher's track record of success with large, complex clients and further illustrates Sica | Fletcher's strong relationship with top-tier investors, such as The Carlyle Group.