Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh, has acquired Great Lakes Employee Benefit Services, an employee group benefits consulting and brokerage firm based in Troy, Michigan.
Terms of the transaction were not disclosed.
Founded in 1997 by Joseph Coan and Jim Scoggin, Great Lakes Employee Benefit Services has annual revenues of approximately $3.4 million. The firm offers strategic benefit consulting services to publicly and privately held midsize organizations nationwide, including manufacturers, financial services, communications, higher education, and healthcare organizations.
Great Lakes will combine with MMA’s existing Michigan office, known locally as McGraw Wentworth, further expanding MMA’s presence within the state and the upper Midwest region. Great Lakes’ employees, including Messrs. Coan and Scoggin, will move to McGraw Wentworth’s headquarters in the second quarter of 2014.
"Joining MMA is the right fit for Great Lakes, our employees, and our clients. Our founding principles are echoed in the MMA agency structure, service model, and workplace culture," Mr. Scoggin said. "We look forward to joining MMA and McGraw Wentworth and gaining access to additional resources and expertise for our clients."
"We have long respected Jim, Joe and the entire Great Lakes team," said Thomas McGraw, president of McGraw Wentworth. "We welcome them to the MMA organization and look forward to combining our local resources to support our clients’ group benefits needs and priorities."
Commenting on the transaction, David Eslick, chairman and CEO of Marsh & McLennan Agency said: "Great Lakes Employee Benefit Services is a terrific addition to our growing national roster of high-performing firms that comprise Marsh & McLennan Agency. I welcome Joe Coan, Jim Scoggin, and the rest of the team to MMA."