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July 20, 2011 at 08:00 PM
Mercer is acquiring a health and welfare practice in the Southeast.
Mercer is buying that practice, and a defined contribution advisory practice, from Mahoney & Associates, Springfield, Mass. The practices Mercer acquired are in Fort Lauderdale, Fla.
Mercer, a human resources consulting and outsourcing subsidiary of Marsh & McLennan Companies, Inc., New York (NYSE: MMC), hopes to complete the deal by Aug. 31. The price was not disclosed.
Completing the Mahoney deal will make Mercer the largest health and benefits broker in the Miami-Fort Lauderdale insurance brokerage market — the ninth largest brokerage market in the United States.
The acquisition also will expand the distribution capabilities of Mercer DC advisors, which provides consulting, advisory and brokerage services for small and midsize defined contribution retirement plans and profit-sharing plans.
