Choice Financial Group, a regional insurance agency based in Virginia Beach, said it has acquired Georgia Pines Agency, expanding its footprint into Georgia, Florida and California.
GPA, headquartered in Kennesaw, Georgia, is a full-service agency with 12 offices and 65 employees. Co-founders Michael Heidelberger and Steven Roy will continue to oversee operations, Choice Financial said in a news release.
Bob Hilb, founder and former CEO of the Hilb Group, a major insurance broker, is CEO of Choice Financial. The acquisition is the 10th for Choice since it obtained capital support from Northlane Capital Partners, the company said. Choice now has offices in 11 states.
Hilb Buys Up Allegacy Benefits
In another transaction involving the rapidly expanding Hilb Group, the company has acquired Allegacy Benefit Solutions, a credit union service organization based in Winston-Salem, North Carolina.
The move means that Allegacy Federal Credit Union is getting out of the employee benefits business, according to news reports. The unit has about 20 employees and most of those will transition to Hilb, the company said.
Hilb Group is a national property/casualty and benefits brokerage that has grown nationwide through multiple acquisitions in recent years. The company said in a news release that is has completed more than 140 acquisitions in 22 states.
Topics Mergers & Acquisitions Georgia
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