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Marsh & McLennan Agency LLC, Marsh LLC ‘s middle market agency subsidiary, said Friday it has acquired Atlanta-based broker Ironwood Insurance Services LLC.
Terms of the transaction were not disclosed.
Ironwood provides property/casualty insurance, employee benefits and private client services to midsize businesses and individuals throughout the United States, Marsh said in its statement.
It is also a leading provider of pre-close due diligence, transactional services and risk management services to private equity funds and their portfolio companies. It has dedicated expertise in the real estate, construction, energy, manufacturing, professional services and health care industries, as well.
Ironwood’s 85 employees will continue to operate out of the firm’s Atlanta and Charlotte, North Carolina, offices.
Will Underwood, Ironwood’s founder and CEO, will continue as CEO and assume the additional role of Private Equity Center of Excellence leader for Marsh & McLennan Agency. Partners Matt Lovein and Matt Hene will become Ironwood co-presidents, Marsh said in its statement.