NU Online News Service, Feb. 15, 11:24 a.m. EST
Daytona Beach, Fla.-based insurance broker Brown & Brown said today that it has acquired two Massachusetts agencies specializing in employee benefits.
J. Scott Penny, Brown & Brown's regional president and chief acquisitions officer, said in a statement that the firm's subsidiary, Brown & Brown of Massachusetts, LLC., has acquired United Benefit Services of Newton, Mass., and Beverly T. Gottlief & Associates of Charlestown, Mass.
The financial terms of both deals were not released.
With combined annualized revenues of approximately $6.4 million, United Benefit Services, founded in 2000, and Beverly T. Gottlieb & Associates, founded in 1985, serve the individual and group life, health and other employee benefit planning needs of clients in the Boston metropolitan area and throughout New England.
Stephen H. "Steve" Peck, Robert S. "Bob" Golden and M. Dennis Guappone, principals of United Benefit Services, will remain at their current locations, as will Beverly T. Gottlieb, principal of Beverly T. Gottlieb & Associates. The firms will operate under the leadership of Mr. Peck.
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