M&A Deal Summary

HUB International Acquires Sandy Spring Insurance

On June 2, 2022, HUB International acquired insurance company Sandy Spring Insurance from Sandy Spring Bank

Acquisition Highlights
  • This is HUB International’s 450th transaction in the Insurance sector.
  • This is HUB International’s 374th transaction in the United States.
  • This is HUB International’s 14th transaction in Maryland.

M&A Deal Summary
Date 2022-06-02
Target Sandy Spring Insurance
Sector Insurance
Buyer(s) HUB International
Sellers(s) Sandy Spring Bank
Deal Type Divestiture

Target

Sandy Spring Insurance

Annapolis, Maryland, United States
Sandy Spring Insurance is a full-service, independent agency that offers all personal, business, and life insurance to clients across Maryland, Northern Virginia, and Washington, D.C. Sandy Spring Insurance was founded in 1999 and is based in Annapolis, Maryland.

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Buyer(S) 1

Buyer

HUB International

Chicago, Illinois, United States
Category Company
Founded 1998
Sector Insurance
Employees10,000
Revenue 2.2B USD (2018)
DESCRIPTION
HUB International office in Burlington, North Carolina.
HUB International office in Burlington, North Carolina.

HUB International is a global insurance brokerage providing a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States (including Puerto Rico), Canada and Brazil. HUB International was formed in 1998 and is based in Chicago, Illinois.

DEAL STATS #
Overall 487 of 572
Sector (Insurance) 450 of 520
Type (Divestiture) 48 of 51
State (Maryland) 14 of 15
Country (United States) 374 of 448
Year (2022) 20 of 42
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-06 APEX Global Benefit Management System and Related Assets

Illinois, United States

APEX Global Benefit Management System and Related Assets provides cutting-edge technology and global research solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-03 Alexander & Company

Woodstock, Georgia, United States

Alexander & Company is a full-service, independent employee benefits advisory firm for the public sector. Alexander & Company was founded in 1995 and is based in Woodstock, Georgia.

Buy -

Seller(S) 1

SELLER

Sandy Spring Bank

Olney, Maryland, United States
Category Company
Founded 1868
Sector Financial Services
Employees1,084
Revenue 419M USD (2023)
DESCRIPTION

Sandy Spring Bank is a provider of financial services to individuals and companies in US. Sandy Spring Bank was founded in 1868 and is based in Olney, Maryland.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-06 Rembert Pendleton Jackson

Falls Church, Virginia, United States

Rembert Pendleton Jackson serves more than 900 clients from around the nation's capital and over 35 states. Rembert Pendleton Jackson registered investment advisors manage more than $1.3 billion in assets with a mission to help individuals and families, foundations and institutions realize their financial goals.

Buy -
Mergr

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