TROY — Marsh & McLennan Agency LLC, a subsidiary of Marsh Inc., today announced that it has acquired McGraw Wentworth Inc., an employee group benefits consulting and brokerage firm based in Troy, Michigan. Terms of the transaction were not disclosed.
Founded in 1997 by Thomas P. McGraw and William D. Wentworth, McGraw Wentworth has annual revenues of approximately $15 million. The firm offers a broad range of strategic benefit consulting services to midsize organizations including manufacturers, automotive suppliers, financial services, non-profits, public schools, and local municipalities.
McGraw Wentworth will operate out of Marsh & McLennan Agency’s upper Midwest hub, expanding its footprint into Michigan. All of the firm’s 72 employees including Messrs, McGraw and Wentworth will join the Marsh & McLennan Agency and continue operating out of their existing office.
“With this transaction we will be able to offer greater resources and a broader platform to serve the needs of our clients throughout the region and country.” said Bill Jeatran, CEO of Marsh & McLennan Agency’s upper Midwest region based in Minneapolis.
“Joining Marsh & McLennan Agency is the right fit for McGraw Wentworth, our employees and our clients,” said Thomas McGraw, president. “The agency structure ensures that we retain our unique service model and workplace culture while also having access to the resources and expertise of the world’s leading broker.”
Commenting on the transaction, David Eslick, chairman and CEO of Marsh & McLennan Agency said, “McGraw Wentworth is a terrific addition to our expanding roster of high-performing agencies that now make up Marsh & McLennan Agencies. I welcome Tom, Bill and the rest of the McGraw Wentworth team to Marsh & McLennan and look forward to expanding our presence in Michigan.”