Hilb Group acquires Texas broker

Virginia-based insurance broker The Hilb Group L.L.C. announced Thursday it has acquired Spring, Texas-based Walker Myers Insurance & Risk Management L.L.C.

The transaction became effective June 1, the company said in a statement.

Terms of the deal were not disclosed.

With Walker Myers’ offices located in San Antonio, Austin, New Braunfels, Corpus Christi and the Houston area, the acquisition brings The Hilb Group a first-time presence in Texas as well as the southwest, the statement said.

According to a company spokesman, Walker Myers will continue to operate with current staff and leadership and will preserve its current brand and identity.

The Hilb Group intends to grow through targeted acquisitions in the middle market insurance brokerage space, the statement said.

The company has 29 offices in Florida, Georgia, Kentucky, Maryland, New York, North Carolina, Tennessee, Texas, Virginia, and West Virginia.