Marsh & McLennan Agency, a unit of Marsh Inc. acquired KSPH, a $5 million revenue employee benefits agency in Glen Allen, Va.
Launched in 2000, KSPH offers employee benefits and retirement plan services to middle market clients in Virginia. KSPH will operate within Rutherfoord, a Marsh & McLennan Agency company.
The deal further expands Rutherfoord’s Richmond, Va., market position and adds to its employee benefit capabilities.
The transaction is the third complementary acquisition for Rutherfoord, which Marsh & McLennan Agency acquired in March 2010 to serve as its mid-Atlantic hub.
All of KSPH’s leadership and employees will join Rutherfoord and continue operating out of KSPH’s existing Glen Allen, Va., office.
“Adding KSPH to Rutherfoord enables us to offer greater resources and a broader platform to serve the needs of our clients throughout the mid-Atlantic,” said Thomas Brown, vice chairman of Rutherfoord. “We are delighted to welcome the KSPH team as we share the same core values of putting clients’ interests first and providing exceptional service and expertise.”