US-based Marsh & McLennan Agency has acquired insurance brokerage and human resource consulting firm Corporate Consulting Services (CCS). All of CCS’ staff transfer to Marsh & McLennan Agency. The value of the deal has not been disclosed.
Corporate Consulting Services (CCS) was founded in 1989 and is based in New York. The firm has a number of clients in the clients nonprofit and for profit sectors, providing them with insurance brokerage, employee benefits, retirement planning, and human resource consulting services. The firm has annual revenues in the order of $6 million and employs 20 people.
Marsh & McLennan Agency (MMA), a subsidiary of Marsh, is a US-based risk prevention and insurance player that was formed in 2008. The company has, largely through a strategy of inorganic growth – grown rapidly to employ 4,000 professionals with revenues of approximately $900 million. Last month the firm acquired Aviation Solutions, a supplier of mid-market aviation offerings to clients across the US.
In a continuation of its inorganic growth strategy, MMA has added CCS to its growing roster. The deal will see CCS continue to operate from its New York premises, although it will immediately be rebranded under the MMA flag. CCS’s President and CEO Grant Dougherty will continue to lead the firm’s staff, all of whom will continue at the firm.
Anthony Gruppo, CEO of MMA’s Northeast region says that the firm is “delighted” with the addition of CCS’ leadership and staff to MMA, adding that “With the addition of CCS, we further enhance our employee benefits platform and design to better serve the needs of our clients in the Northeast region.”
Dougherty says: “As the healthcare and human resource landscape continues to evolve, joining forces with MMA provides our clients with access to even greater depth and breadth of expertise and a wider array of services and solutions.”