NU Online News Service, Feb. 16, 1:01 p.m.EST
|The Boston office of Kinloch Consulting Group Inc., KinlochBoston, was acquired by Marsh & McLennan Agency LLC (MMA), asubsidiary of insurance broker Marsh Inc.
|Kinloch Consulting Group is the employee benefits division ofKinloch Holdings Inc.
|Financial terms of the transaction were not released.
|Kinloch Boston, with annual revenues of approximately $2million, will be folded into Bostonian Group, an MMA member firm.The move will further expand Bostonian's depth and expertise inemployee benefits, MMA said. MMA noted that this is the firstcomplementary acquisition for Bostonian, which MMA acquired in May 2010.
|According to Kinloch Holding's website, the consulting firm has a branch office inNew York. It opened its doors in 2006 with the acquisition ofGenatt Associates.
|Kinloch Boston is the 10th acquisition for MMA since November2009, when it began building out its national platform primarily toserve the property and casualty and employee benefits needs of themiddle market. MMA now boasts annual revenue of approximately $290million.
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