Marsh & McLennan Agency LLC, (MMA) said it has acquired Trion Group, a privately held employee benefits specialist with $74 million in annual revenues.
Financial terms of the acquisition were not disclosed.
Established in 1999, Trion is based outside Philadelphia in Conshohocken, Pa. The firm offers a diversified mix of consulting, brokerage, group disability and life, absence management, voluntary benefits, and benefit administration services to clients across the country.
Trion's four principals--Ed Garno Jr., Ed Garno III, Dave Oberkircher and Chris Veno--will continue to lead Trion as part of MMA. All of Trion's employees are expected to join MMA.
MMA said Trion is the sixth acquisition it has made since its inception. Over the last 13 months, MMA has acquired Insurance Alliance, The NIA Group, Haake Companies, Thomas Rutherfoord and Bostonian Group. With the addition of Trion, MMA said it now boasts annual revenue of approximately $260 million.
"We are delighted to welcome the leadership team and the employees of Trion to Marsh & McLennan Agency," said David Eslick, MMA's chairman and chief executive officer. "Over the last 11 years, senior management has built Trion into a highly regarded, premier employee benefits firm with one of the highest organic growth rates in the industry. Trion is an excellent fit for our growing national business and will serve as a key hub for MMA going forward."
MMA is an independent subsidiary of insurance broker Marsh, which is part of New York-based Marsh & McLennan Companies, was established in 2008.
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