August 5, 2013
Hub International Continues Growth Strategy by Transitioning to Partnership with Hellman & Friedman LLC
We are pleased to announce that Hub International has agreed to be acquired by funds advised by Hellman & Friedman LLC, one of the world's largest and most respected private equity firms. Hellman & Friedman will hold a majority interest in the company, with existing members of Hub senior management continuing to have a significant equity position. Our Executive Management Team will remain in place and there will be no change in our plans to keep building a great company for the long term.
This transaction allows us to continue to serve our clients by investing in our infrastructure, enhancing our product and service offerings, and expanding our geographic footprint by acquiring independent brokerages who share our vision.
Following six years of commendable performance and growth with Apax Partners as our controlling owner, we are taking the next step in our development as a leading global insurance brokerage. We have had a great relationship Apax and now look forward to the future with Hellman & Friedman.
Since our founding 15 years ago, we've grown rapidly by providing exceptional client service and sound advice to become one of strongest insurance brokerages in the industry. We have 6,500 employees across the U.S. (including Puerto Rico), Canada and Brazil. We've also grown through acquisition, attracting over 300 independent brokerages that have increased our geographic reach and expertise.
Our mission is clear:
- We remain committed to our clients, colleagues and communities.
- We will invest in our company and colleagues, and work with the world's leading insurance carriers who provide the capacity, products and services to meet the evolving needs of our clients.
- Above all, we remain dedicated to our culture of customer service, helping our clients achieve their goals by addressing their insurance and risk management needs.
This transaction strengthens our company's already solid foundation and enhances our ability to build our company well into the future - a future that is bright with the promise of continued growth, high performance, and outstanding client service.
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