Alera Group acquires Spring Consulting

Deerfield, Illinois-based insurance brokerage and wealth management firm Alera Group said Monday it acquired Spring Consulting Group L.L.C., a Boston-based employee benefits, risk management and captive consultant, effective Feb. 1.

Terms of the deal were not disclosed.

Spring Consulting, Alera Group’s first Boston market acquisition, was founded in 2004, Alera said in statement. This acquisition expands the national presence of Alera Group, establishing locations in 17 states, it added.

Alera, which was formed in December 2016, said Spring Consulting provides strategic and technical employee benefit consulting, brokerage and actuarial services to employers; strategy and product development advice to insurance and financial institutions; and overall financing and funding solutions for benefit programs, including the use of captive insurance vehicles.

Karin Landry, Spring’s co-founder and managing partner, was a presenter at Business Insurance’s recent World Captive Forum in Fort Lauderdale, Florida.

“Spring Consulting Group is an excellent addition to Alera Group. We look forward to sharing the consulting and captive management expertise of Karin and her team across our entire platform,” Alera CEO Alan Levitz said in the statement.