Hilb buys commercial transportation agency in New JerseyPosted On: Oct. 15, 2019 10:35 AM CST
The Hilb Group LLC on Tuesday said it has acquired Kearny, New Jersey-based LCIA Inc., which does business as Campisano Insurance Agency.
Terms of the transaction, which was effective Oct. 1, were not disclosed.
LCIA is focused on the commercial transportation and trucking industry and largely provides commercial insurance in the New York tri-state area for auto liability/physical damage, tow packages, cargo/inland marine, workers compensation, umbrella/excess and general/garage liability, Richmond, Virginia-based Hilb said in a statement.
Staff will continue in their existing location under Gus Campisano, LCIA agency leader, the statement said. All employees will remain and “all of our agencies transition to our brand over time,” a spokeswoman said in an email.
“LCIA’s transportation and trucking expertise will add depth to THG's specialty programs and further strengthen our transportation practice in the Tri-State region," Ricky Spiro, CEO of The Hilb Group, said in the statement.
The Hilb Group is a portfolio company of Boston-based private equity firm Abry Partners LLC, the statement said.