Chicago-based insurance broker Hub International Limited said it plans to acquire Vermont-based Coburn Insurance Agency Inc., an insurance agency specializing in the trucking industry. Financial details were not released.
Hub said completion of the Coburn transaction is subject to the execution of a definitive purchase agreement and other customary closing conditions. It is expected to close during the first quarter of 2007.
Coburn, with revenues reported at $9 million, specializes in transportation risks. It has offices in Colchester, Vt.; Hilton Head, S.C.; Memphis, Tenn.; and Deland and New Smyrna Beach, Fla.
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