THG acquires real estate-focused P&C insurance agency in MA

THG acquires real estate-focused P&C insurance agency in MA

The Hilb Group (THG) has acquired the P&C insurance agency Gould & Naimoli Partners, LLC, also known as G&N Insurance.

G&N, founded in 2010, is a Massachusetts-based insurance agency that primarily serves the personal lines needs of real estate owners in the New England area. A release noted that G&N has been recognized by Inc. Magazine as one of the fastest growing private companies in the country for the past three years.

Following the acquisition, G&N will continue to operate out of its Southborough, MA location. Agency leaders Zack Gould and Matt Naimoli will continue to lead the G&N team.

“As a rapidly growing agency, we are looking forward to the added capabilities we will have as part of THG,” commented Naimoli, who added that leveraging THG’s platform will give G&N more opportunities for growth, as well as giving G&N’s clients “better, more expansive service than ever before.”

“Matt and I are extremely proud of the culture we have fostered at G&N,” commented Gould. “We could not be more excited to find a partner with like-minded values and a similar approach to client service.”

“G&N possesses everything THG looks for in a new partner,” said THG CEO Ricky Spiro. “Its focus on core values, infectious work ethic, and strong organic growth model all make for a great fit.”

Read more: It’s official – Carlyle Group reveals huge insurance acquisition

News of the acquisition comes after THG entered a definitive agreement with The Carlyle Group investment firm, allowing Carlyle to acquire a majority interest in Hilb. The transaction is expected to close sometime in Q4 2019.