Short Hills-Bollinger, Inc. has acquired MLW Services, Inc. of New York.
The principals of MLW, Andrew Marks, president and CEO, Bert Linder, executive vice president and Chuck Weisblum, chairman, will continue in executive capacities with Bollinger. Ongoing operations will continue at MLW’s downtown location at 100 William Street, New York City with MLW’s current staffing of key employees.
Jack Windolf, chairman and CEO of Bollinger, said that combining MLW with Bollinger’s existing New York City office later this year will result in a $10 million revenue branch operation. “This gives Bollinger a significant presence in the NYC market and will produce a greater platform for growth and improved efficiencies,” he said.
Headquartered in Short Hills, N.J., Bollinger has branch offices in Princeton, N.J., and Moorestown, N.J. as well as New York City. Bollinger provides business and personal insurance, including insurance programs for golf and country clubs, amateur sports and schools and colleges.
This is the twenty-third acquisition by Bollinger in recent years.
MLW generates more than $6.5 million of commission revenue, according to the company. With this acquisition, Bollinger’s projected commission revenues for 2006 will exceed $97 million, solidifying its place among the largest insurance brokerage operations in the country.
Business Management Group, a subsidiary of The Hartford Financial Services Group, served as advisor to Bollinger in this transaction.
Topics New York
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