US-based insurance broker, The Hilb Group (THG) has purchased Engle, Paxson & Hawthorne Insurance Services, (EPH) of Leesburg, Virginia, for an undisclosed sum.
Further terms of the transaction have not been disclosed, although the deal remains effective from 1 April 2013.
EPH, which was set up more than a hundred years ago, offers protection for the assets and health of individuals and business owners in Northern Virginia, Washington DC and Maryland.
Hilb Group president and chief executive officer (CEO) Robert J Hilb said that the transaction will boost the company's footprint in the region and looks forward to work with Prescott Engle and team.
EPH president Prescott Engle added that the sale, though originally not intended, would help them achieve many things by teaming up with the THG management.
Established in 2009 by Robert H Hilb, the former founder, CEO and chairman of Hilb, Rogal and Hobbs, and Robert J Hilb, a former corporate vp of HRH, Hilb Group looks to expand through targeted acquisitions in the middle market insurance brokerage space.
Headquartered in Richmond, Virginia, the company has offices in Virginia, North Carolina, Tennessee, Georgia, Maryland and New York.