Willis Group Holdings Limited announced today the acquisition of Gueits, Adams & Company.
Terms of the deal were not released.
Founded in 1989 by Edward Gueits and Gerard Adams, the New York City-based Gueits, Adams is engaged in the sale of insurance to businesses, primarily in the jewelry industries in the United States. The firm has annualized revenues of approximately $4 million.
"This acquisition is part of our strategy to reinforce our position in existing businesses in order to foster continued growth," said Joe Plumeri, chairman and chief executive officer of Willis, in a statement. "It complements our acquisition of International Insurance Brokers earlier this year."
The transaction was completed Feb. 1, Willis said.
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