Marsh & McLennan Agency L.L.C., a subsidiary of Marsh Inc., on Monday said it has acquired the Troy, Mich.-based employee group benefits consulting and brokerage firm McGraw Wentworth Inc.
Terms of the sale were not disclosed.
Founded in 1997, McGraw Wentworth offers brokerage and benefits consulting services to midsize companies in a broad range of industries including manufacturing, automotive supply and financial services, as well as nonprofits, public schools and local municipalities. The company recorded approximately $15 million in annual revenue in 2012, according to a statement released by Marsh on Monday.
“McGraw Wentworth's quality employees, leadership and capabilities make it a tremendous addition to MMA in the upper Midwest,” Bill Jeatran, Minneapolis-based CEO of Marsh & McLennan Agency's upper Midwest region, said in the company's statement. “With this transaction, we will be able to offer greater resources and a broader platform to serve the needs of our clients throughout the region and country.”
McGraw Wentworth's 72 current employees will continue to work from the company's office in Troy, and will report to Marsh & McLennan Agency's offices in Minneapolis.
Marsh Inc.'s Marsh & McLennan Agency L.L.C. subsidiary announced Wednesday that it had acquired Dayton, Ohio-based Brower Insurance Agency L.L.C.