Marsh & McLennan Agency Acquires McGraw Wentworth
Acquisition Expands MMA's Footprint into Michigan
WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh Inc., today announced that it has acquired McGraw Wentworth, Inc., an employee group benefits consulting and brokerage firm based in Troy, Michigan. Terms of the transaction were not disclosed.
Founded in 1997 by Thomas P. McGraw and William D. Wentworth, McGraw Wentworth has annual revenues of approximately $15 million. The firm offers a broad range of strategic benefit consulting services to midsize organizations including manufacturers, automotive suppliers, financial services, non-profits, public schools, and local municipalities.
McGraw Wentworth will operate out of MMA's upper Midwest hub, expanding MMA's footprint into Michigan. All of the firm's 72 employees including Messrs. McGraw and Wentworth will join MMA and continue operating out of their existing office.
"McGraw Wentworth's quality employees, leadership and capabilities make it a tremendous addition to MMA in the upper Midwest," said Bill Jeatran, CEO of MMA's upper Midwest region based in Minneapolis. "With this transaction we will be able to offer greater resources and a broader platform to serve the needs of our clients throughout the region and country."
"Joining MMA is the right fit for McGraw Wentworth, our employees and our clients," said Thomas McGraw, president. "MMA's agency structure ensures that we retain our unique service model and workplace culture while also having access to the resources and expertise of the world's leading broker."
"We are excited to join MMA, as they share our commitment to satisfying the complex and diverse needs of the region's midsize employers," added William Wentworth, vice president.
Commenting on the transaction, David Eslick, Chairman and CEO of Marsh & McLennan Agency said: "McGraw Wentworth is a terrific addition to our expanding roster of high-performing agencies that now make up Marsh & McLennan Agencies. I welcome Tom, Bill and the rest of the McGraw Wentworth team to MMA and look forward to expanding our presence in Michigan."
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the U.S. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.
Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYS: MMC) , a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 53,000 employees worldwide and annual revenue exceeding $11 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in human resource consulting and related services; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.
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