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The Hilb Group LLC has acquired Springdale, Arkansas-based Walker Brothers Insurance Inc., effective April 1, the broker said in a statement Tuesday.
Terms of the transaction were not disclosed.
Walker, formed in 1932, focuses on commercial property/casualty insurance for small to medium-size businesses, the statement said.
The firm’s employees, including President Mike Luttrell, have joined Hilb and will continue to operate out of their office in Springdale, the statement said.
Hilb “is committed to building a distinguished network of nationwide agency partners, and Walker’s “strong Arkansas presence supports the growth of our organization's footprint," Hilb CEO Ricky Spiro said in a statement.
The Hilb Group, headquartered in Richmond, Virginia, is a portfolio company of Boston-based private equity firm Abry Partners LLC.
Hilb Group L.L.C. on Tuesday said it has acquired Charlotte, North Carolina-based Charlotte Insurance in a deal that became effective Feb. 1.