Marsh & McLennan Agency acquires RJF Financial Services

18 April 2017

Marsh & McLennan Agency has acquired RJF Financial Services for an undisclosed sum. The Minnesota-based pensions advisory firm will continue to operate from its current premises, under the leadership of founded Jim McQuillan. The value of the deal has not been disclosed, and continues MMA's inorganic expansion strategy across the US mid-market benefits advisory space.

RJF Financial Services was founded by Jim McQuillan, who is now President, almost 20 years ago. The Minneapolis, Minnesota, based retirement advisory firm, supporting plan sponsors, participants, and business executives.

The acquisition, the value of which has not been disclosed, sees RJF Financial Services and its 13 professionals transfer to Marsh & McLennan Agency. The firms have had a respective working relationship with each other for a good number of years in the Mid-West region, the acquisition solidifying that relationship. RJF Financial Services will continue to work out of its current premises in Brooklyn Park. The acquisition continues the Marsh subsidiary’s continued inorganic expansion* in the mid-market advisory space in the US.

Marsh & McLennan Agency

Regarding the acquisition, Bill Jeatran, CEO of MMA’s upper Midwest region, remarks, “I have known and worked with Jim McQuillan and his firm for more than two decades and couldn’t be happier to formalise our business relationship. RJF Financial’s experienced and principled people are the right team to expand MMA’s retirement services capabilities into the upper Midwest.”

Reflecting on joining the larger firm, McQuillan says, “Our team is excited about the additional resources we can now bring to our clients, and eager to help build and grow the MMA retirement services practice in the Minneapolis area and throughout the upper Midwest.”

* In recent years, the firm has picked up a number of players across the market, including  Aviation Solutions, Corporate Consulting Services, Celedinas Insurance Group, Benefits Advisory Group, J. Smith Lanier & Co, iaCONSULTING and Blakestad.


Royal HaskoningDHV buys UK firm to boost digital flood services

25 April 2019

Royal HaskoningDHV has acquired Ambiental to accelerate its growth of flood-related digital services. The UK-based professional services firm is a provider of actionable intelligence from data, which can be used to help protect people, property and capital from flooding and climate change.

In recent years the UK has been routinely stricken by flooding, with former forests and wetlands across the country having become susceptible to flooding, with few measures to soak up ground-water from heavy rainfall. Notably, 2007 floods along the River Don caused major social and economic damage to Lower Don Valley, while elsewhere in the UK, winter floods in 2013/2014 affected thousands, and killed 17. The following winter also saw considerable flooding across the UK from Storm Desmond, Storm Eva and Storm Frank, among other heavy storms, costing the nation billions of pounds in the process.

With a growing number of other incidences spread across the country, professional services firms are increasingly being tapped to help deal with flooding in the future. Founded three years ago, Ambiental Environmental Assessment was created to support the growing UK development industry with its flood risk assessment needs. Since then, it has worked on over 3,000 projects, including supporting the redevelopment of St Paul’s School, Richmond (EIA project), National Rail developments, gas-fed electricity generator compounds, solar farms, and the housing developments of over 400 properties.

Royal HaskoningDHV buys UK firm to boost digital flood services

In 2018 alone, natural disaster events across the world led to economic damage of $225 billion. With demand for flood risk assessment remaining high, Ambiental quickly attracted the attention of larger consultancies for acquisition. As a result, Royal HaskoningDHV has announced a deal to purchase Ambiental. The deal strengthens the Dutch consultancy's position in the insurance market, providing clients with data-driven software and services that complement its extensive engineering and advisory knowledge. The acquisition also enhances the firm’s flood resilience and environmental consultancy profile in the UK.

Ambiental, meanwhile, will considerably enhance its global presence and footprint with the deal. As a result, Ambiental hopes its combined unique data analytics, human resources and engineering expertise will allow it to improve its product offering and associated customer support. It will also mean the firm can further develop and scale its solutions in data products, software and associated services for improved risk pricing, risk selection, accumulation control, actionable intelligence and portfolio modelling.

Commenting on the deal, Royal HaskoningDHV CEO Erik Oostwegel said, “We are excited to welcome the Ambiental team with their high-precision, productised analytics and data solutions. Together we can help our clients to better understand and reduce risks from flooding and other natural hazards using digital services and market-leading intelligence. Ensuring that money spent on flood risk modelling and management delivers the greatest possible impact on communities, corporates and infrastructure.”

Ambiental CEO, Justin Butler, added, “Ambiental is very pleased to be joining Royal HaskoningDHV. We deliver many complementary solutions, and together with Royal HaskoningDHV and their new partners, we will be able to offer even more compelling value propositions, and broader solutions using predictive analytics, data science, machine learning and computational risk modelling to an expanding global customer base.”