Marsh & McLennan Agency LLC (MMA), a subsidiary of broker Marsh Inc., acquired Progressive Benefit Solutions (PBS), a $5 million revenue employee benefits agency based in Raleigh, North Carolina. Terms of the transaction were not disclosed.
PBS will operate as a division of Rutherfoord, a Marsh & McLennan Agency LLC company, expanding Rutherfoord’s employee benefits capabilities and resources in the Raleigh market. PBS offers health, wellness, compliance, and executive compensation products and services to midsize clients. John McDonnell, William Salmon, Rick Kelly, and the rest of the PBS team will join Rutherfoord and continue operating out of PBS’s existing Raleigh office. The transaction is the fourth complementary acquisition for Rutherfoord/MMA.
Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the U.S. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the United States.
Source: Marsh & McLennan Agency