Insurance broker Lockton announced Thursday that it has acquired Outland Consultants, a global employee benefits consultancy in Glastonbury, Connecticut. Terms of the transaction were not disclosed.
Since 1998, Outland Consultants has worked with international companies to help assess and manage their employee benefit costs and risks associated with acquisitions, through due diligence analyses, transition and integration support and benefit harmonization.
Outland Consultants has previously partnered with Lockton to provide additional expertise in areas of international mergers and acquisitions.
Lockton said that while it already has a robust U.S.-focused Private Equity and Corporate Acquisitions Practice (PECAP), it has typically turned to Outland Consultants for assistance with international mergers and acquisitions.
“In our new relationship, we can more effectively support one another’s growth and success,” said Ross Reda, executive vice president and chief operating officer of Lockton Benefit Group.
As a Lockton company, Outland Consultants and its seven associates will continue their work from the Glastonbury location. Keith J. Goodell will remain Outland Consultant’s managing director and consulting actuary and will work closely with Lockton’s employee benefits PECAP team, led by senior vice president Don Harrington, and Lockton’s Global Benefits team, led by senior vice president Pam Enright.
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