NU Online News Service, Feb. 16, 1:01 p.m. EST
The Boston office of Kinloch Consulting Group Inc., Kinloch Boston, was acquired by Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc.
Kinloch Consulting Group is the employee benefits division of Kinloch Holdings Inc.
Financial terms of the transaction were not released.
Kinloch Boston, with annual revenues of approximately $2 million, will be folded into Bostonian Group, an MMA member firm. The move will further expand Bostonian's depth and expertise in employee benefits, MMA said. MMA noted that this is the first complementary acquisition for Bostonian, which MMA acquired in May 2010.
According to Kinloch Holding's website, the consulting firm has a branch office in New York. It opened its doors in 2006 with the acquisition of Genatt Associates.
Kinloch Boston is the 10th acquisition for MMA since November 2009, when it began building out its national platform primarily to serve the property and casualty and employee benefits needs of the middle market. MMA now boasts annual revenue of approximately $290 million.
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