Private Equity Firm Buys Controlling Stake in Virginia’s Hilb Group

A New York private investment firm has taken a controlling interest in Virginia-based insurance broker, The Hilb Group.

BHMS Investments has completed a controlling equity investment in The Hilb Group, which was formed in 2009 by former senior executives of Hilb Rogal & Hobbs Co. (HRH), which was bought by broker Willis Group Holdings for $2.1 billion in 2008.

Hilb said its senior management team will continue to hold a significant ownership stake in the business.

Robert J. Hilb, CEO of Hilb, said the capital provided by BHMS will help the firm further execute on its plan to build a “leading middle market brokerage agency in the tradition of HRH.”

Management said it intends to build The Hilb Group through retail agency acquisitions.