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Report: Abry Partners to sell majority stake in Hilb Group

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Report: Abry Partners to sell majority stake in Hilb Group

Abry Partners LLC is coordinating with an investment bank to divest its majority stake in insurance broker Hilb Group LLC, Reuters reported, citing sources familiar with the matter.

The deal would value Hilb Group at over $1 billion, including debt, according to the report. The insurance broker generates EBITDA of approximately $75 million, the sources said.

Abry Partners declined to comment, while Hilb Group did not respond to the news organization's request for comment.