Marsh & McLennan Agency has acquired US-based iaCONSULTING for an undisclosed sum. The deal boosts the firm's mid-market consulting business in the West Texas area.
iaCONSULTING is an employee benefits consulting firm, based in Lubbock, Texas. The firm, which was founded in 1994, offers a range of advisory services to mid-sized employers across the state, including those related to employee health and benefits. The firm is run by Bill Hartsfield, who has been with the company since 1980, when it was still part of a large multi-line insurance agency.
Marsh & McLennan Agency’s (MMA), a subsidiary of Marsh and the 12th largest insurance broker in the US, acquisition sees iaCONSULTING become part of its wider brokering consulting service and boosts the firm’s presence in Lubbock and West Texas. For iaCONSULTING, the rationale for the deal is, according to a spokesperson, the freedom to maintain the firm’s culture and service model, while enjoying additional benefits to its client and staff base from MMA’s country wide resources, networks and expertise.
Hartsfield and his team will continue to operate from their premises in Lubbock. The terms and conditions of the deal have not been disclosed.
Bill Henry, CEO of MMA’s Southwest region, remarks on the deal, “I welcome the talented and experienced employee benefits professionals at iaCONSULTING to MMA and look forward to further expanding our presence in the Lubbock and West Texas market.”
Hartsfield adds, “We are excited to join MMA and view this move as an excellent opportunity to build on iaCONSULTING’s success over the last 23 years. As a part of MMA, our clients will now have access to a wider range of products and services to address their emerging and evolving needs.”
MMA has a history of inorganic expansion, including the recent additions of several mid-market firms, including Aviation Solutions, Corporate Consulting Services, Celedinas Insurance Group, Benefits Advisory Group and J. Smith Lanier & Co.