Hub International acquires assets of Combined Human Capital Management
Hub International Limited (Hub), a premier global insurance brokerage and financial services firm, has expanded its portfolio by acquiring the assets of Combined Benefits, Inc., Combined Commercial Insurance Services LLC., and Combined Employer Services Inc. (collectively known as Combined HCM). The terms of the transaction, which marks a significant enhancement to Hub’s capabilities in human capital management, were not disclosed.
Strengthening Human Capital Management Services
Located in Diamond Bar, California, Combined HCM specializes in comprehensive human capital management solutions, assisting clients with HR, recruiting, payroll, benefits, and commercial insurance needs. This acquisition is set to bolster Hub’s service offerings in the Los Angeles/Orange County (LAOC) region by integrating Combined HCM’s expertise and established client relationships.
Leadership Comments on the Acquisition
Andrew Forchelli, President of Hub LAOC, expressed his enthusiasm about the acquisition: “Combined HCM has great talent and a strong reputation in the region with an unwavering commitment to its clients and their employees,” said Forchelli. “They will help us continue to grow and provide our clients with innovative human capital solutions, quality products and services. We are excited for them to join Hub.”
Donny Woo, CEO of Combined HCM, also commented on the new partnership, highlighting the future growth opportunities with Hub: “With Hub, we will continue to grow,” Woo stated. “Hub has an already strong platform of benefits capabilities and resources to help us expand our services to meet the growing human capital and benefits needs of our clients.”
Integration and Future Prospects
The Combined HCM team, including CEO Donny Woo and Vice President of Payroll Jonathan Zhao, will join Hub’s LAOC operations, ensuring continuity and expertise in service delivery. The firm will operate under the name Combined HCM, a Hub International company.
The acquisition of Combined HCM by Hub International is a strategic move that enhances Hub’s offerings in the competitive market of human capital management. By leveraging Combined HCM’s regional expertise and robust client servicing capabilities, Hub is set to improve its integrated services and expand its market presence in Southern California.