The Hilb Group acquires ESOP-owned Walker Brothers Insurance Inc.

May 2nd, 2019

Springdale-based Walker Brothers Insurance Inc. has been acquired by The Hilb Group LLC (THG). Walker Brothers was previously owned by Mike Luttrell (President) and other employees of the company through an employee stock ownership plan (ESOP). THG is a middle market insurance agency headquartered in Richmond, Va., and is a portfolio company of Boston-based private equity firm, Abry Partners. The company now has 75 offices in 18 states. Walker Brothers was founded in 1932 by Calvin and T.J. Walker. Luttrell said the business has 22 employees and more than 5,000 customers between its commercial business and personal accounts.

Employee Stock Ownership Plans or “ESOPs” are a viable tool for shareholders and companies to create smooth succession plans while enhancing employee productivity.

Menke & Associates, Inc. is the largest ESOP advisor in the country having created over 3,500 ESOPs in all 50 states, including Colorado, in our 45 year history

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