NU Online News Service, Sept. 5, 10:14 a.m. – Clark/Bardes Consulting Inc., North Barrington, Ill., a large, national benefits and compensation consulting firm, has completed previously announced plans to purchase Lyons Compensation and Benefits L.L.C., Waltham, Mass.
The Lyons Companies L.L.C., Waltham, a life insurance agency and investment advisory firm, formed Lyons Compensation in 1947. The firm has a national compensation and benefits consulting practice.
Clark/Bardes is paying the previous owners $5 million in cash and $1 million in stock. Clark/Bardes may also make $6 million in additional payments over the next four years, if the Lyons firm meets revenue targets.
The Lyons firm will become the New England regional office of the Clark/Bardes Consulting – CRG division, Clark/Bardes says.
Chris Rich, previously president at the Lyons firm, will be a managing director for the New England region. J. Peter Lyons, founder of the Lyons firm, will also be a New England managing director.
The acquisition is the 17th Clark/Bardes has announced since it became a public company in August 1998.