US-based insurance brokerage and risk management firm Marsh & McLennan Agency (MMA) has completed acquisition of employee group benefits consulting and brokerage firm McGraw Wentworth.
Terms of the transaction were undisclosed.
Michigan-based McGraw Wentworth provides a range of strategic benefit consulting services to mid-size organizations which include manufacturers, automotive suppliers, financial services, non-profits, public schools, and local municipalities. It has annual revenues of approximately $15m.
The firm was founded in 1997 by Thomas P. McGraw and William D. Wentworth.
Following the completion of transaction, McGraw Wentworth will operate out of MMA’s upper Midwest hub while all employees will join MMA and continue operating from their existing office.
MMA’s upper Midwest region CEO Bill Jeatran commented that the transaction will enable MMA to serve the clients’ requirements with greater resources and will have a broader platform throughout the region and country.