MARLBOROUGH, Mass.—Marsh Inc.’s Marsh McLennan Agency L.L.C. subsidiary is acquiring the employee benefits division of Marlborough, Mass.-based Kaeding, Ernst Co., the company announced Friday.
Terms of the deal were not disclosed.
Becoming part of Bostonian Group
The division, which produces approximately $600,000 in annual revenue from consulting and placement of employee benefits, life insurance and financial planning services for middle-market employers, will become part of the Bostonian Group, another MMA company, Marsh said in a statement.
The transaction is the second complementary acquisition for Bostonian/MMA after February’s acquisition of the Boston office of Kinloch Consulting Group Inc., the employee benefits division of Kinloch Holdings Inc.
The group, which produced $2 million in annual revenues, advises employee benefits products and services to a wide range of employers.
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