Login Register Subscribe
Current Issue

Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Marsh makes big mid-market push with Texas purchase

Reprints

Marsh L.L.C. continued its expansion into mid-market business with the acquisition announced Monday of Top 50 brokerage MHBT Inc.

Terms of the deal, which was made by Marsh's midsize business unit Marsh & McLennan Agency L.L.C., were not disclosed.

Dallas-based MHBT has annual revenue of about $76 million and 350 employees in five offices in Texas, according to a Marsh & McLennan Agency statement. MHBT is the 50th largest broker of U.S. business, according to Business Insurance's 2104 ranking.

The brokerage will serve as Marsh & McLennan Agency's Southwest regional hub under the leadership of MHBT CEO Bill Henry.

All MHBT employees will join Marsh & McLennan Agency and operate under the name MHBT, a Marsh & McLennan Agency L.L.C company, the company said.

“We are excited to add the strength, depth and quality of MHBT's entire team to MMA, and I personally look forward to working with Bill Henry on growing our presence in the Southwest,” Marsh & McLennan Agency Chairman and CEO David Eslick said in a statement.

Anthony C. Gruppo, who has served as Marsh & McLennan Agency's Southwest regional CEO since 2013, will continue to serve as CEO of the brokerage's Houston operations, the company said.

Marsh & McLennan Agency has made several significant purchases in the past several years, including Barney & Barney L.L.C. and Thomas Rutherfoord Inc., leading Marsh's expansion into the mid-market sector.