Business Moves
MMA, Kinloch
Marsh & McLennan Agency (MMA), the retail unit of Marsh, has acquired the Boston office of Kinloch Consulting Group Inc., the employee benefits division of Kinloch Holdings Inc. Terms of the transaction were not disclosed. Kinloch Boston — which has with annual revenue of approximately $2 million — will be folded into Bostonian Group, which MMA acquired in May 2010. Kinloch Boston, which focuses on middle market employee benefits, is the tenth acquisition for MMA since November 2009. MMA has annual revenue of $290 million.
BKS Partner, IRMS
Tampa-based Baldwin Krystan Sherman Partners, LLC has completed its acquisition of the Naples-based Insurance and Risk Management Services employee benefits division. Baldwin Krystan, doing business as BKS-Partners, is opening an office in Naples, Florida and retaining IRMS service members to join as a team with BKS-Partners. Garret Gardi, formally of IRMS, will lead the Naples office as managing advisor. IRMS Chief Executive Officer George Schmelzle said the company’s decision to divest its employee benefits business is consistent with its strategy to focus on its core business of providing property/casualty insurance and risk management.
Brown&Brown, United Benefit, Gotttlieb
Florida’s Brown & Brown has acquired United Benefit Services and Beverly T. Gottlieb & Associates, two metro-Boston agencies specializing in employee benefits and related insurance products. Terms of the deal were not disclosed. The two agencies — headquartered in Newton and Charlestown, respectively — have combined revenues of approximately $6.4 million. They will remain in their current locations and Steven Peck, a principal of United Benefits, will lead the combined businesses.
United Benefit is an umbrella company for four insurance agencies: Stephen H. Peck & Associates Inc., M.D. Guappone Insurance Agency, G.P. Insurance Agency and the Golden, Robbins Insurance Agency.
All Web Leads, InsuranceLeads
Austin, Texas-based All Web Leads Inc., an online sales lead generation company supplying the U.S. insurance industry, has acquired InsuranceLeads.com, a provider of online leads to insurance agents, brokers and carriers. To finance the acquisition All Web Leads teamed with Great Hill Partners, a Boston-based private equity firm with more than $2.5 billion under management, which made a majority investment in the combined entity. All Web Leads’ current executive team will lead the combined company, which will continue to be based in Austin, Texas.