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The Hilb Group LLC said Tuesday it completed its acquisition of New York-based Rampart Brokerage Corp. & Affiliates, effective Dec. 1.
Terms of the transaction were not disclosed.
With nearly 200 employees, Lake Success, New York-based Rampart provides upper middle-market commercial lines, high net worth personal lines, individual life and group benefits to clients in the New York Tri-State area and across the U.S., Hilb said in a statement.
As part of the deal, Rampart Brokerage Corp. CEO Gary Morris, partner Robby Morris, chief marketing officer Sandy Morris, Rampart Agency Inc. CEO Marc Blatt, Rampart Benefit Planning Inc. President Evan Portnoy, principal Steve Jaeger and staff have joined Hilb’s Tri-State operations, the statement said.
They will continue to work out of existing locations in New York, New Jersey and Pennsylvania, Hilb said.
Richmond, Virginia-based Hilb, a portfolio company of The Carlyle Group, is the 28th-largest brokerage of U.S. business, according to Business Insurance’s most recent ranking.
Private equity firm The Carlyle Group has agreed to acquire The Hilb Group LLC from Boston-based private equity firm Abry Partners LLC, the Richmond, Virginia-based brokerage Hilb said on Wednesday.