Hilb Buys Nowell in Mississippi, Alkeme Acquires PEO Exchange in Florida

Hilb Group Buys Nowell Agency in Mississippi

The Hilb Group has expanded into Mississippi with the acquisition of The Nowell Agency, the property insurance brokerage and benefits firm announced.

The Nowell Agency has offices in Brandon, Greenwood, Tupelo, Byram and Hattiesburg, Mississippi, and has specialized in coverage for fuel distribution operations, dwellings, agribusiness and more. Mike Nowell and team will now be part of Hilb Group’s Southeast operations, the company said in a news release.

Hilb, part of the Carlyle Group investment firm, has completed more than 150 acquisitions in recent years and now has offices in 24 states.

Terms of the deal were not disclosed.

Alkeme Acquires Tampa-based PEO Exchange

Alkeme, one of the larger U.S. insurance brokerage firms, has acquired PEO Exchange, a Tampa-based professional employer organization that specializes in finding workers’ compensation coverage for tough-to-place industries.

PEO Exchange works with PEOs, employer-of-record organizations and administrative-services-only firms through an automated web portal, serving employers in roofing, staffing, transportation, solar and other areas, the company said.

Alkeme, based in Ladera Ranch, California, is backed by GCP Capital Partners. A press release said the company provides property and casualty insurance, benefits, surety, and risk management services and works with agencies on consolidation of services.

Topics Florida Mergers & Acquisitions Mississippi