VIRGINIA BEACH, Va., Jan. 26, 2022 /PRNewswire/ -- Choice Financial Group, a portfolio company of Northlane Capital Partners (Northlane), announced today that Robert (Bob) Hilb will take on all leadership of merger and acquisition activity while continuing to serve in his existing roles of Senior Advisor and Board member.
Hilb has over 35 years of insurance industry experience and, since 2018, has served as CEO of Hilb and Partners. Hilb and Partners is a consulting firm that assists private equity firms, insurance brokers, and insurtech firms in identifying, vetting, and closing add-on acquisitions. One of the early clients of Hilb and Partners was Richard Braun, the President and Founder of Choice.
Before that, Hilb was the Founder and CEO of the Hilb Group from 2009 until 2017. The first transaction at Hilb Group was self-funded by Hilb, the original management team, and 14 outside investors. Within a year after the first transaction, Hilb Group sold to BHMS, a New York-based PE firm, and later to a Boston-based PE firm. During his tenure at Hilb Group, Hilb led the mergers and acquisition function of the business, vetting over 600 deals and closing 50 transactions.
"Throughout my career, I've always believed ours is first and foremost a relationship business and that as leaders, we have to value those relationships above all else. I'm grateful for the opportunities presented to me since 2018 and have made aligning myself with people of the highest integrity and honesty my main priority," said Hilb. "Richard and the team at Northlane reflect those values, and I'm honored to provide some small assistance in growing Choice."
"Bob's experience and knowledge assisted my agency in achieving 700% growth from 2018-2021," said Braun. "Having him on the team will exponentially increase our value proposition for our current and future partners."
"We are thrilled to be working with both Rich and Bob, both of whom have tremendous track records of success," said Scott Kauffman, Partner at Northlane. "With the support of Northlane's capital resources, as well as its debt facility with Madison Capital Funding, LLC, Choice is in a unique position to deliver both short and long-term value for all of its partners and shareholders."
Choice has completed three acquisitions since partnering with Northlane in October 2021.
About Choice Financial Group: Choice Financial Group (Choice) is a leading insurance agency with institutional capital support from Northlane Capital Partners. Choice is expanding its market presence through organic growth and targeted acquisitions. Choice is headquartered in Virginia Beach, Virginia, and has 15 offices in 5 states. For more information on Choice, visit www.choice.partners.
For agency partnership opportunities, contact:
Bob Hilb, Senior Advisor
804-564-9625
bob.hilb@choiceins.com
Richard Braun, President
757-416-5118
richard.braun@choiceins.com
For media inquiries, contact:
Mandy Berkowitz
mandy@theimagemarketinggroup.com
757-581-8116
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SOURCE Choice Financial Group
