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Industry Spotlight > Mergers and Acquisitions

More Deals: Grizzaffi Darby, RJF

By staff Writer

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Marsh & McLennan Agency L.L.C. has added another spoke to the wheel.

Marsh & McLennan Agency, a unit of a brokerage subsidiary of Marsh & McLennan Companies Inc., New York (NYSE:MMC), says it has acquired RJF Agencies Inc., Minneapolis.

RJF was founded in 1986 and now has about 150 employees and $25 million in annual revenue. It sells employee benefits and property-casualty insurers to midsize companies.

The price of the deal was not available, but Marsh & McLennan says it will be keeping Bill Jeatran, the RJF chief executive, and Tim Fleming, the RJF president, as well as the other RJF employees.

Marsh & McLennan has talked about using acquisitions to “add the spokes” needed to create a national distribution network. The company recently completed acquisitions of two benefits brokers — Strategic Benefit Solutions Inc., Alpharetta, Ga., and Trion Group Inc., Conshohocken, Pa.

In another distribution transaction, Lockton Dunning Benefits, Dallas, a unit of Lockton Companies L.L.C., Kansas City, Mo., has acquired Grizzaffi Darby L.L.C., Denton, Texas.

The combined business has about 150 employees and will provide health and welfare benefits consulting expertise along with productivity and wellness consulting services, Lockton Dunning says.

Grizzaffi Darby will take the Lockton Dunning Benefits name and will keep its current offices in Denton.

The price was not announced.

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